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West Coast Paper Mills enters into SPA with RSGBL

22 May 2015 Evaluate

West Coast Paper Mills has entered into Share Purchase Agreement (SPA) with Riddhi Siddhi Gluco Biols (RSGBL) for sale of 2,11,24,791 equity shares constituting 36.32% of total paid up equity capital of Shree Rama Newsprint (SRNL) for Rs 74,705. The sale of shares will, however, be subject to release of Corporate Guarantees of Rs 246.25 crore given to various banks and the buyer complying with the requirement of the Open Offer under the Securities and Exchange Board of India Regulations, 2011 or any other statutory approval. The board of directors at their meeting held on May 21, 2015 has approved for the same.

The company pursuant to the said SPA has agreed to accept payment of Rs 70 lakh on completion date against Inter-Corporate Deposits of Rs 52.30 crore extended to SRNL and balance amount of Rs 51.60 crore will be written off & also to waive interest on the said Inter Corporate Deposits from April 01, 2014 till completion date.

West Coast Paper Mills is engaged in manufacturing paper, paperboard and coated duplex board. The company is flagship company of Kolkata based- SK Bangur Group.


West Coast Paper Share Price

492.00 -10.85 (-2.16%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
JK Paper 375.20
TN Newsprints 140.05
West Coast Paper 492.00
Emami Paper Mills 75.24
Seshasayee Paper 270.95
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