Shree Renuka Sugars Completes Acquisition of Shares in Wholly-Owned Subsidiary

Key Highlights

• Shree Renuka Sugars Ltd has completed the acquisition of shares in its wholly-owned subsidiary, KBK Chem-Engineering Private Limited.
• The acquisition was carried out by converting a loan of Rs. 573.65 Mn. into equity on a rights basis.
• The Board of Directors of KBK approved the allotment of 2,49,122 Equity Shares of Rs. 100/- each at an issue price of Rs. 2,302.69 per share, including a premium of Rs. 2,202.69/- per share.
• This development is in line with the regulations 30 and other applicable regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.