Divestment30 Jun 2026, 07:10 pm
Race Eco Chain Sells 0.99% Stake in Prime Industries
AI Summary
Race Eco Chain Limited has divested 2,10,000 equity shares, representing 0.99% of its associate company, Prime Industries Limited, for a consideration of ₹88,53,600. This sale, effective June 30, 2026, results in Prime Industries ceasing to be an associate of Race Eco Chain. The transaction was conducted at arm's length. Prime Industries contributed significantly to Race Eco Chain's consolidated income (53.58%, ₹331.5 Lacs) and net worth (17.65%, ₹1527.11 Lacs) as of March 31, 2026.
Key Highlights
- Race Eco Chain divested 0.99% stake in associate Prime Industries.
- Sale consideration amounts to ₹88,53,600.
- Prime Industries is no longer an associate company.
- Transaction occurred on June 30, 2026, at arm's length.
- Associate contributed significantly to consolidated income and net worth.
Price Impact
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