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%.