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KSS approves divestment in subsidiary K Sera Sera Box Office

It is proposed to divest the entire equity shareholding held by the company in K Sera Sera by way of sale to Birla Financial Distribution for an aggregate consideration of Rs50 Lacs.

November 30, 2021 12:15 IST | India Infoline News Service
KSS Limited has approved the divestment of its entire equity shareholding in material wholly-owned subsidiary K Sera Sera Box Office Private Limited by way of sale to Birla Financial Distribution Limited (purchaser).

“The Board of Directors of KSS Limited at its meeting held on November 29, has considered and subject to the approval of its shareholders, approved the divestment of the Company's entire equity shareholding in K Sera Sera Box Office Private Limited, a material wholly-owned subsidiary of the Company, by way of sale to Birla Financial Distribution Limited (Purchaser) for such consideration as set out in Annexure 1 (the Proposed Transaction). Subject to approvals of from concerned regulator & approval of members by way of passing special resolution,” company said in a filing.

The total investment of the Company in K Sera Sera as on date is Rs2742.50 Lacs. It is proposed to divest the entire equity shareholding held by the company in K Sera Sera by way of sale to Birla Financial Distribution, for an aggregate consideration of Rs50 Lacs.

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