Dalmia Bharat has received an approval for sale of the entire shareholding of the company in its wholly owned subsidiary, Kanika Investment (a registered Non-banking Financial Company) to Shree Nirman, a promoter group entity.
The board of directors at its meeting held on August 5, 2017, have approved the Share Purchase Agreement for sale of the entire shareholding of the company comprising of 4,20,000 equity shares of face value of Rs 10 each of Kanika Investment at a consideration of Rs 195.19 per share aggregating to Rs 8.20 crore. The transaction is proposed to be completed on or before September 19, 2017.
Dalmia Bharat is an India-based holding company. The company operates as a cement manufacturing company.
