Sakthi Auto Component (SACL) has become a subsidiary company of Sakthi Sugars pursuant to allotment of equity shares by SACL to holder of Convertible Preference Shares on exercising the conversion option, the company’s shareholding percentage in SACL has come down to 65%.
Sakthi Sugars earlier held 100% equity share capital of SACL and as such SACL was the wholly owned subsidiary of the company.
Sakthi Sugars is one of the largest producers of sugar in India with a capacity of over 13,500 tonnes of cane crushing per day. It has units / plants in the states of Tamil Nadu and Orissa.
