Shree Renuka Sugars has entered into agreements/term sheets for sale of 38,02,300 equity shares of National Commodity & Derivatives Exchange (NCDEX), representing 7.5% of paid-up capital of NCDEX for a total sale consideration aggregating to Rs 66.54 crore.
The above is however subject to necessary approvals of NCDEX board and Forward Markets Commission. Subsequent to the closure of the transaction, the company’s stake shall stand reduced from 12.5% to 5% in NCDEX.
Shree Renuka Sugars operates 11 sugar mills in India and Brazil with a total crushing capacity of 20.7 million tonnes per annum and two port-based refineries with sugar production capacity of 1.7 million tonnes per year.
