Acquisitions3 Mar 2026, 03:35 pm
Grand Foundry Limited to Sell Majority Stake to Sar Televenture Limited
AI Summary
Grand Foundry Limited has entered into a Share Purchase Agreement (SPA) with Sar Televenture Limited for the sale of up to 2,13,51,740 equity shares, representing 70.17% of the paid-up share capital, for a consideration of Rs. 1.50 per share. This transaction will result in a change in management and control of the company, with Sar Televenture Limited set to acquire complete management and control.
Key Highlights
- Grand Foundry Limited to sell a majority stake to Sar Televenture Limited
- Sar Televenture Limited to acquire 70.17% of the paid-up share capital for Rs. 3,20,27,610
- Transaction will result in a change in management and control of the company
- Share Purchase Agreement signed on 03.03.2026
- Completion of the transaction subject to regulatory approvals and open offer