Sundaram Finance Holdings has received approval from board of directors for sale of upto 11% stake, viz., upto 44,00,000 equity shares of Rs 10, held by the Company in the share capital of Sundaram Composite Structures (Suncomp) (formerly BIH Braking Company) to Brakes India (BIPL) at Rs 10.30 per share, for a total consideration of Rs 4.53 crore (excluding stamp charges, taxes and other expenses, as applicable. The board of directors of company at its meeting held on February 03, 2022 has approved the same.
Sundaram Finance Holdings is involved in the business of making all types of investments, including investments in financial service enablers, Fin-tech investments and Small Startup Type (incubator) investments, as well as to engage in the business of BPO, consultants.
