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Kirloskar Brothers informs about outcome of board meeting

02 Aug 2024 Evaluate
Kirloskar Brothers has informed that the Board of Directors of Kirloskar Brothers (‘KBL’) in its meeting held today, on August 02, 2024, has approved the following: Unaudited Financial Results (Standalone and Consolidated) for the Quarter ended June 30, 2024 and The sale of its entire stake in The Kolhapur Steel (TKSL), a ‘non-material wholly owned subsidiary’ of the Company to Karad Projects And Motors (KPML) a ‘material wholly owned subsidiary’ of the Company, for a consideration of Rs. 10.76 Crores. The Company would enter into a definitive agreement (Share Purchase Agreement) with KPML in due course of time. Consequent upon this transaction, TKSL would cease to be wholly owned subsidiary of the Company and it would become a wholly owned subsidiary of KPML. The details as required under SEBI’s Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023, are attached as Annexure. The Board Meeting commenced at 9.30 am and concluded.

The above information is a part of company’s filings submitted to BSE.

Kirloskar Brothers Share Price

1764.10 25.60 (1.47%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Kirloskar Brothers 1764.10
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