Mawana Sugars to transfer 49% stake in Siel Ind to Siel Infra
Mawana Sugars said it will transfer its 49 per cent stake in Siel Industrial Estate to Siel Infrastructure and Estate Developers for Rs 135.02 crore.
By PTI |
MUMBAI: Mawana Sugars today said it will transfer its 49 per cent stake in Siel Industrial Estate to Siel Infrastructure and Estate Developers for Rs 135.02 crore.
Siel Industrial Estate and Siel Infrastructure and Estate Developers Pvt Ltd are two wholly-owned subsidiaries of Mawana Sugars.
The proposed transfer of stake was approved by the Board of Directors in the meeting held on September 13, the company said in a BSE filing.
"This consideration is being discharged by issuing of equity share of Siel Infrastructure and Estate Developers to the company," it said.
Siel Industrial Estate and Siel Infrastructure and Estate Developers Pvt Ltd are two wholly-owned subsidiaries of Mawana Sugars.
The proposed transfer of stake was approved by the Board of Directors in the meeting held on September 13, the company said in a BSE filing.
"This consideration is being discharged by issuing of equity share of Siel Infrastructure and Estate Developers to the company," it said.
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