Suraj has informed that the company has agreed to acquire 47.06% Stake/Shares in Suraj Enterprise (CIN NO: U27100GJ2005PTC046501) on fully diluted basis, on preferential basis for a cash consideration of approximately Rs 12.78 Crores. Further, upon completion of the aforesaid investment, Suraj Enterprise shall become Associate Company of Suraj as per the provision of Companies Act, 2013 and the total holding of Suraj in Suraj Enterprise on a fully diluted basis would be 47.06%. Disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Part A of Schedule III of the aforesaid regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, is also attached.
The above information is a part of company’s filings submitted to BSE.
