RSWM has decided to sell around 1.69 crore equity shares of Rs 10 each of Bhilwara Energy an associate company at a cash consideration of Rs 84.85 crore to HEG on the basis of valuation of fair price per share on arm's length basis. The company's holding in Bhilwara Energy, after the proposed sale, shall be 1.25 crore equity shares comprising of 7.56%.
RSWM is engaged in the manufacturing, spinning, weaving and processing of manmade textile fabrics. The company is also engaged in cotton spinning and weaving.
