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Confidence Petroleum India enters into SPA to acquire 0.57% stake in GIR

06 Sep 2017 Evaluate

Confidence Petroleum India has entered into a Share Purchase Agreement (SPA) with the Promoter of Globe Industrial Resources (GIR), a company incorporated under the provisions of the Companies Act, 1956 and having its registered office at New Delhi and currently listed on BSE and Metropolitan Stock Exchange of India (MSEI) for acquiring 11,300 equity shares of Rs 10 each, constituting 0.57% of the Fully Paid Up Equity Share Capital of the GIR.

Pursuant to the said acquisition, the holding of the company in GIR would go beyond 25%. The said acquisition would be subject to the terms of the SPA and necessary statutory and regulatory approvals as may be required.

Confidence Petroleum is an India-based manufacturer of liquefied petroleum gas (LPG) cylinders for domestic, as well as commercial use. The Company is engaged in the sale of cylinder, LPG bottling, and filling/DPT/transport. Its segments include the LPG/CNG Cylinder manufacturing, and the LPG Bottling & Marketing.


Confidence Petroleum Share Price

52.00 -0.67 (-1.27%)
20-Apr-2026 10:03 View Price Chart
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