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Riddhi Siddhi Gluco Biols to acquire 48.62% stake in Shree Rama Newsprint

22 May 2015 Evaluate

Riddhi Siddhi Gluco Biols has entered into a Share Purchase Agreement (SPA) with the Promoters & entities forming part of the promoter group of Shree Rama Newsprint for acquiring 2,82,77,677 equity shares of Rs 10 each, constituting 48.62% of the total paid up equity share capital of Shree Rama Newsprint at a total consideration of Rs 1 lakh.

The said acquisition would be subject to the terms of the SPA and necessary statutory and regulatory approvals as may be required. The board of directors at their meeting held on May 21, 2015 has approved for the same.

Further, the company would also be subscribing to six crore equity shares of Rs 10 each of Shree Rama Newsprint, along with ICICI Bank (lenders of Shree Rama Newsprint) who would be subscribing to Optionally Convertible Debentures with aggregate value of Rs 30 crore, in compliance with Securities and Exchange Board of India Regulations, 2009.


Riddhi Siddhi Gluco Share Price

548.85 -2.15 (-0.39%)
20-Apr-2026 16:59 View Price Chart
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