Swelect Energy Systems Ltd completes stake sale in AMEX Alloys Pvt Ltd

The Sale of Equity investment in the Share Capital of AMEX Alloys Private Limited, the sale of Equity shares (81.54%) has been completed today i.e. March 18, 2024.

As per the Second Amendment Agreement, the consideration for 1st Tranche amounting to Rs.63,00,01,649/-(Rupees Sixty-Three Crores one thousand six hundred and forty-nine only), after deducting agreed adjustments, has been received by the Company and 79,09,400 Equity shares have been transferred to the buyer i.e. DMW CNC SOLUTIONS INDIA PRIVATE LIMITED.

Consequent to the above, AMEX Alloys Private Limited is not a Wholly Owned Subsidiary of the Company and the management control has also been changed as per the agreement with effect from 18th March 2024.

Shares of Swelect Energy Systems Limited was last trading in BSE at Rs. 939.80 as compared to the previous close of Rs. 895.05. The total number of shares traded during the day was 1854 in over 207 trades.

The stock hit an intraday high of Rs. 939.80 and intraday low of 916.05. The net turnover during the day was Rs. 1730402.00.

Source : Equity Bulls

Keywords

SwelectEnergySystems INE409B01013 StakeSale AMEXAlloys