“The company at its meeting held on September 5, 2020, have approved the acquisition of 100% stake in Slaney from ZML for a total consideration of Rs7.12cr. Slaney forms part of the promoter group,” the company informed the exchanges on Saturday.
The company added that it also approved “Investment upto 71.5 million to in SIL, a wholly owned subsidiary of the company for the purpose of acquisition of 5% profit sharing in Griffin.
After this transaction, Shalby Limited held 100% profit sharing in Griffin directly and indirectly through its wholly-owned subsidiary, namely Shalby International Limited.”
Shalby Ltd is currently trading at Rs79.60, down by Rs1.05 or 1.3% from its previous closing of Rs80.65 on the BSE.