Libord Finance Limited reduces stake in Libord Brokerage Pvt Ltd

Libord Finance Limited ("LFL") was holding 59,94,240 shares equivalent to 39.96% of equity shares in Libord Brokerage Private Limited ("LBPL"). Accordingly, LBPL was an Associate Company of LFL and therefore, the share of Profit I (Loss) of LBPL was merged in the consolidated financial statements of LFL as per the applicable Accounting Standards.

Further, LFL has sold 31,84,340 equity shares equivalent to 21 .23% of equity shares of LBPL today, which has resulted in the reduction of the shareholding of equity shares of LFL in LBPL to 18. 73%. whereby LBPL has ceased to be an Associate Company of LFL during the Financial Year 2024-25. Accordingly, the share of Profit I (Loss) of LBPL shall not be considered for consolidation in the financial statements of LFL from the quarter ending June 30, 2024.

Shares of Libord Finance Ltd was last trading in BSE at Rs. 13.72 as compared to the previous close of Rs. 13.46. The total number of shares traded during the day was 584 in over 6 trades.

The stock hit an intraday high of Rs. 13.72 and intraday low of 13.50. The net turnover during the day was Rs. 7918.00.

Source : Equity Bulls

Keywords

LibordFinance INE212B01011 StakeSale LibordBrokerage