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MoneyWorks4Me

India Motor Parts & Accessories gets nod to sell stake held in M/s Transenergy

22 Mar 2023 Evaluate

India Motor Parts & Accessories has received an approval from board of directors to sell 31,812 equity shares of M/s. Transenergy for a total consideration of Rs 2.72 crore excluding stamp duty and other charges, if any to M/s Sundaram Finance Holdings. Consequent to selling of the aforesaid equity shares, the company’s stake in Transenergy will reduce from 22.00% to 15.00%. The Board of Directors at their meeting held on March 21, 2023 has approved the same.

India Motor Parts & Accessories is one of the largest all India distributors for automobile spare parts.

Peers
Company Name CMP
Redington 358.60
Adani Enterprises 2736.00
Amrapali Industries 34.77
Maxgrow India 178.35
Rashi Peripheral 697.90
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