Raunaq Epc International has received approval for sale of 1.48 crore equity shares constituting 100% of the equity paid-up capital of wholly owned subsidiary -- Xlerate Driveline India. The Board of Directors of the Company at its meeting held on July 04, 2019 has approved the same.
The transfer would be beneficial to the company in the long term, as the proceeds of the transfer partly could be utilised to pay off the debts which will drastically bring down the financial burden on the company.
Raunaq Epc International (formally known as Raunaq International) engaged in turnkey execution of Engineering Projects.
