Orient Beverages has received an approval for sale of 311000 (around 45%) nos. of equity shares of Satyanarayan Rice Mill (SRMPL) wholly owned subsidiary at the rate of Rs 27.50 per share, which shall be effective from April 1, 2023.
Consequently, after transfer of said shares, status of SRMPL as wholly owned subsidiary will be cease, however it will continue to be subsidiary company of the Company in terms of provisions of Section 2(87) of the Companies Act, 2013. The Audit Committee and thereafter Board of Directors of the Company at their meetings held on March 24, 2023 approved has approved the same.
Orient Beverages is engaged in the businesses of packaged drinking water, real estate and share trading. The company markets packaged drinking water under the trademark 'Bisleri'. The company also in the business activities of Beverage, Real Estate Division.
