Raunaq EPC International to sell 24.91% stake in Xlerate Driveline India

The current market cap of the company is Rs8.69cr.

Aug 04, 2021 03:08 IST India Infoline News Service

Stock Market Trader, Stock Trader, Trading
Raunaq EPC International Ltd has informed that the Board of Directors has considered and approved the transfer by way of sale, 37,06,159 (24.91%) Equity Shares held by the Company in Xlerate Driveline lndia Limited (XDIL), an Associate Company within the Group to Sachit Kanwar, Executive Director - Operations of the Company for a total consideration of Rs2,59,43,113/- (Rupees Two Crores Fifty Nine Lakhs Forty Three Thousand One Hundred Thirteen Only) i.e. Rs7.00 per Equity Share.

Raunaq EPC International has sufficient in-house resources in terms of Engineering Manpower, Tools & Plants, and Technical know-how besides separate departments for Design & Engineering, Quality Assurance & Inspection etc. to cater the needs for undertaking the Turnkey Contracts of Mechanical, Civil and associated Electrical & Instrumentation works.

On Sensex, at around 3:05 PM, Raunaq EPC International was trading at Rs26 per piece up by Rs0.85 or 3.38%.

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