Dalmia Bharat proposes divestment in Kanika Investment
DSIJ Intelligence / 07 Aug 2017
Cement sector major, Dalmia Bharat has proposed its entire stake sale in its wholly-owned subsidiary Kanika Investment.
Cement sector major, Dalmia Bharat has proposed its entire stake sale in its wholly-owned subsidiary Kanika Investment. The net worth of Kanika Investment as on March 31, 2017 was Rs 529.03 lakhs, which is 0.107% of the consolidated net worth of the company.
The Board of Directors of Dalmia Bharat, on August 5, 2017, approved the share purchase agreement for sale of its entire shareholding of the company comprising of 4,20,000 equity shares of face value of Rs 10 each of Kanika Investment. The transaction is proposed to be completed on or before September 19, 2017.
Meanwhile, the cement manufacturer gained 3.17% at 2,653.20 per share at 0945 hours on the BSE and attracted a total traded quantity of 2,990 shares.
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