Shyam Metalics and Energy’s wholly owned subsidiary -- Shyam SEL and Power (SSPL), has successfully completed acquisition of controlling stake of 90% in Shree Venkateshwara Electrocast (SVEPL) through a Share Purchase Agreement executed on August 31, 2021. The investments from SSPL in SVEPL have been done through a combination of equity and inter corporate loans aggregating to Rs 22.28 crore. The entire current bank loan in SVEPL too has been repaid in this amount.
Pursuant to the acquisition, the nominees of SSPL have been appointed on the Board of SVEPL and the existing directors of SVEPL have resigned from its Board as per the terms of the Share Purchase Agreement.
Shyam Metalics and Energy is a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys.
Company Name | CMP |
---|---|
JSW Steel | 906.65 |
Tata Steel | 180.30 |
SAIL | 151.80 |
Jindal Stainless | 816.35 |
Jindal Saw | 565.40 |
View more.. |