Advait Infratech Ltd's stake reduces in Advait Greenergy Pvt Ltd

Advait Infratech Ltd's wholly owned subsidiary of the Company, Advait Greenergy Private Limited, in their Board of Directors' Meeting has allotted further equity shares by way of a preferential issue. Pursuant to the current issue, there has been a change in the shareholding pattern of the subsidiary, leading to Advait Greenergy Private Limited ceasing to be a wholly-owned subsidiary of Advait Infratech Limited and becoming a subsidiary company with 76.32% shareholding.

Advait Infratech Limited also made a further investment in Advait Greenergy Private Limited, this investment aims to strengthen the company's position in the energy sector and capitalize on emerging opportunities in sustainable energy solutions, and also, aligns with our long-term strategic objectives and will enhance shareholder value.

The decision to proceed with this investment has been made after careful consideration of market dynamics, growth prospects, and regulatory requirements.

The total sum of Rs. 6,11,48,800 has been raised by the issue of 3152 shares by Advait Greneergy Private Limited which will help us to capitalize on the upcoming opportunity in the market.

Shares of Advait Infratech Ltd was last trading in BSE at Rs. 1321.80 as compared to the previous close of Rs. 1343.80. The total number of shares traded during the day was 8877 in over 513 trades.

The stock hit an intraday high of Rs. 1374.90 and intraday low of 1300.00. The net turnover during the day was Rs. 11765013.00.

Source : Equity Bulls

Keywords

AdvaitInfratech INE0ALI01010 FundRaising Subsidiary AdvaitGreenergy StakeReduction