MoU7 Sept 2024, 06:19 pm
Mawana Sugars Ltd. Signs MOU with Singla Builders for Asset Sale Worth Rs. 117 Crores
AI Summary
Mawana Sugars Ltd. has entered into a Memorandum of Understanding (MOU) with Singla Builders and Promoters Limited (SBP) for the sale of equity and preference shares of Siel Industrial Estate Limited (Siel IE) and the equity shares of Siel Infrastructure and Estate Developers Private Limited (Siel IED), along with all their respective assets and liabilities. The total consideration for this sale is Rs. 117 Crores. The trading window for dealing in securities of the Company will open from September 11, 2024.
Key Highlights
- Mawana Sugars Ltd. has signed an MOU with Singla Builders and Promoters Limited for the sale of shares and assets of Siel Industrial Estate Limited and Siel Infrastructure and Estate Developers Private Limited.
- The total consideration for the sale is Rs. 117 Crores, inclusive of a loan payable of Rs. 9.70 Crores to Mawana Sugars Ltd.
- The trading window for dealing in securities of the Company will open from September 11, 2024.
- Singla Builders and Promoters Limited is a public limited company engaged in development and establishment of real estate projects under the name of SBP GROUP in Punjab for many years.
- The transaction does not fall within related party transactions.