Business Update21 Feb 2024, 08:33 pm
Industrial Investment Trust Ltd. Receives Rs. 25 Crores from Nimbus India Limited for Sale of Preference Shares
AI Summary
The company has received 50% of the total sale consideration from Nimbus India Limited towards the sale of preference shares of World Resorts Limited. The remaining 50% of the sale consideration will be received upon transfer of all preference shares held by the company in WRL in favor of the purchaser.,
Key Highlights
- Sale of preference shares of World Resorts Limited to Nimbus India Limited
- Receipt of Rs. 25 Crores as first tranche of sale consideration
- Transfer of preference shares held by the company in WRL in favor of the purchaser