HKG acquires sugar mill, ethanol plant through auction; Stock gains 3%

13 Jul 2022 , 09:19 AM

HKG Limited has announced to the exchanges that it has successfully participated in the auction conducted towards Shri Shivsagar Sugar and Agro Products Limited, udapudi on July 11, 2022.

The Company participated in the auction to acquire Sugar Mill, Co-Gen Plant, Ethanol Plant, Office Building, Godown and Guest House from The Belagavi District Central Co-Operative Bank Ltd (Bank) and Bank has awarded us in-principle letter dated July 11, 2022 for the same, the company said in a regulatory filing on Tuesday.

On Wednesday at around 9:19 AM, HKG was trading at Rs13.39 per share higher by 3.24% as against previous closing of Rs12.97 per share on the BSE.