EFC India Ltd to invest in MPF Fire Systems Limited

The Hon'ble NCLT, Mumbai Bench, has approved the resolution plan under Section 31 of the Insolvency and Bankruptcy Code, 2016 ("IBC") for MPF Fire Systems Limited ("Corporate Debtor"). EFC (I) Limited ("EFC") had participated as the Strategic Investor under the provisions of the IBC and has been declared the successful bidder.

As per the approved Resolution Plan, EFC will subscribe to up to 15% equity in the ("Corporate Debtor") during the resolution process and will continue as a Strategic Investor. EFC's role is solely to support the Company's revival and growth through strategic investments, without participating in the day-to-day management or decision-making processes of the Company.

Shares of EFC India Limited was last trading in BSE at Rs. 613.55 as compared to the previous close of Rs. 621.05. The total number of shares traded during the day was 137546 in over 1716 trades.

The stock hit an intraday high of Rs. 629.00 and intraday low of 595.00. The net turnover during the day was Rs. 84453953.00.

Source : Equity Bulls

Keywords

EFCIndia INE886D01026 EFCIL SuccessfulBidder IBC MPFFireSystems