Business Update21 Jun 2024, 04:12 pm
Triveni Engineering Acquires 36.34% Stake in Sir Shadi Lal Enterprises for Rs. 44.83 Crore
AI Summary
Triveni Engineering and Industries Limited has entered into a Share Purchase Agreement with certain promoters and members of promoter group of Sir Shadi Lal Enterprises Limited. The agreement pertains to the purchase of 19,07,743 equity shares, representing 36.34% of the total share capital of Sir Shadi Lal Enterprises, for a per share consideration of Rs. 235, amounting to a total consideration of Rs. 44.83 crore. Post-acquisition, Triveni Engineering holds 32,42,879 equity shares, or 61.77% of the total shareholding of Sir Shadi Lal Enterprises.
Key Highlights
- Triveni Engineering and Industries Limited has acquired a 36.34% stake in Sir Shadi Lal Enterprises Limited.
- The acquisition was made through a Share Purchase Agreement with certain promoters and members of promoter group of Sir Shadi Lal Enterprises.
- The total consideration for the acquisition is Rs. 44.83 crore.
- Post-acquisition, Triveni Engineering holds 61.77% of the total shareholding of Sir Shadi Lal Enterprises.
- The disclosure is in compliance with Regulation 30A of the SEBI LODR Regulations, SEBI Circular Nos. SEBI/HO/CFD/PoD2/CIR/P/2023/120 and SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123.