Business Update27 Jun 2024, 11:52 pm
Navkar Corporation Ltd Announces Share Purchase Agreement with JSW Port Logistics Private Limited
AI Summary
Navkar Corporation Ltd has approved a Share Purchase Agreement ('SPA') with JSW Port Logistics Private Limited, a wholly owned subsidiary of JSW Infrastructure Limited. The SPA, dated June 27, 2024, is for the sale of 10,59,19,675 equity shares of the Company, representing 70.37% of the share capital. This transaction triggers an open offer to the public shareholders of the Company in accordance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The details of the transaction are provided in Annexure B.
Key Highlights
- Navkar Corporation Ltd has approved a Share Purchase Agreement with JSW Port Logistics Private Limited.
- The SPA is for the sale of 70.37% of the share capital of the Company.
- This transaction triggers an open offer to the public shareholders of the Company.
- The SPA is dated June 27, 2024.
- The details of the transaction are provided in Annexure B.