Sale28 Sept 2026, 06:10 pm
Vraj Iron Sells MVK Industries Stake for ₹4.55 Cr
AI Summary
Vraj Iron and Steel Ltd has approved the sale of its entire 3,96,000 equity shares in MVK Industries Private Limited, a group company, to its promoter and holding company, Gopal Sponge and Power Private Limited. The transaction, valued at ₹115 per share, aggregates to ₹4,55,40,000. This non-core investment, made pre-listing and not generating recurring income, will allow Vraj Iron to utilize proceeds for ongoing expansion. The sale is considered a related party transaction and will be completed by October 31, 2026.
Key Highlights
- Vraj Iron sells entire stake in MVK Industries for ₹4.55 Cr.
- Sale is to promoter Gopal Sponge and Power Private Limited.
- Proceeds to be used for company's expansion plans.
- Transaction is a related party deal at arm's length.
- Sale completion expected by October 31, 2026.
Price Impact
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