Partnership13 Aug 2024, 12:54 am
Nimbus Projects Ltd. to Disinvest Stake in Indogreen International for Rs. 45.33 Crores
AI Summary
Nimbus Projects Ltd. has announced its decision to disinvest its stake in the partnership firm M/s Indogreen International, which is a joint venture firm. The company holds a stake of Rs. 45.03 crores in Indogreen International, and it plans to sell this stake to World Resorts Limited for an aggregate sale consideration of Rs. 45.33 crores. This decision was made at the board meeting held on August 12, 2024, and is subject to the approval of the company's shareholders. The details of the sale, including the MOU, Supplementary Partnership Deed, and Share Purchase Agreement, are provided in Annexure A.
Key Highlights
- Nimbus Projects Ltd. to disinvest its stake in Indogreen International
- The stake is worth Rs. 45.03 crores
- The stake will be sold to World Resorts Limited
- The sale consideration is Rs. 45.33 crores
- The decision is subject to the approval of the company's shareholders