Acquisitions8 May 2026, 07:21 pm
Shashank Traders: AVB Group Acquires 26.65% Stake
AI Summary
Shashank Traders Ltd's Board of Directors approved the completion of a transaction where AVB Endevours Private Limited, Prilika Enterprises Private Limited, and Aditya Vikram Birla acquired 8,24,600 equity shares (26.65%) at ₹30 per share. This acquisition grants the AVB Group control, making them promoters. Key board changes include the appointment of Aditya Vikram Birla as Chairman and resignations of Amit Jalan and Amit Choudhary.
Key Highlights
- AVB Group acquires 26.65% stake in Shashank Traders for ₹30 per share.
- AVB Endevours, Prilika Enterprises, and Aditya Birla gain control, become promoters.
- Aditya Vikram Birla appointed as Chairman of the Board.
- Amit Jalan and Amit Choudhary resigned from the Board.
- Board to consider Nipun Praveen Jain's CFO resignation in next meeting.