Joint Venture24 Jun 2025, 04:51 pm
Sandhar Technologies Ltd sells Joint Venture Kwangsung Sandhar Technologies Private Limited for INR 10,08,45,560
AI Summary
Sandhar Technologies Ltd has announced the successful completion of the sale of its entire stake in the Joint Venture (JV) namely, Kwangsung Sandhar Technologies Private Limited (KSTPL) and Kwangsung Sandhar Automotive Systems Private Limited (KSASPL) to Kwangsung Corporation Ltd. (KSC), a joint stock company incorporated and existing under the laws of Korea. The transaction was executed through a Share Purchase Agreement dated 19 June, 2025. Sandhar Technologies Ltd received the full consideration amount of INR 10,08,45,560 for the sale of its 50% stake in KSTPL and INR 98,65,500 for 4.5% stake in KSASPL. Consequently, KSTPL and KSASPL shall cease to be a joint venture of the Company.
Key Highlights
- Sandhar Technologies Ltd sells its entire stake in Kwangsung Sandhar Technologies Private Limited and Kwangsung Sandhar Automotive Systems Private Limited to Kwangsung Corporation Ltd.
- The transaction was executed through a Share Purchase Agreement dated 19 June, 2025.
- Sandhar Technologies Ltd received a total consideration amount of INR 10,18,11,060 for the sale of its stakes.
- Kwangsung Sandhar Technologies Private Limited and Kwangsung Sandhar Automotive Systems Private Limited shall cease to be a joint venture of the Company.
- The information was made available on the Company's website viz. www.sandhargroup.com