Williamson Magor Group exits WPIL
Leading tea producer, Williamson Magor (WM) Group has exited from WPIL Ltd as three companies of WM Group have sold 13.98 lakh equity shares on July 7.
By PTI |
MUMBAI: Leading tea producer, Williamson Magor (WM) Group has exited from WPIL Ltd as three companies of WM Group have sold 13.98 lakh equity shares on July 7.
Williamson Magor and Company on Wednesday informed the Bombay Stock Exchange that three of its group companies have sold 13,98,616 equity shares of Rs 10 each of the water supply pumps producer, WPIL.
The stake sold by WM Group Companies was acquired by Hindustan Udyog Group of Kolkata who were the co-promoters of WPIL during last few years, it added.
After the stake sale, WPIL is no more a part of WM Group of companies and move of WPIL is in line with the decision of the WM Group to exit from certain non-core activities.
The Directors nominated by WM Group on the Board of WPIL Ltd would soon resign and the registered office of WPIL Ltd would be shifted shortly from Four Mangoe Lane, Surendra Mohan Ghosh Sarani, Kolkata the Headquarters of WM Group.
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