Royal India Corporation has received approval to acquire 10 lakh equity shares of face value Rs 10 each, at a premium of Rs 5 per share, of Suryam India Minecorp from Surendra Singh and Govind Puri, the current shareholders of the said company. The said acquisition is expected to be completed within 3 months. The company will acquire the equity shares at an aggregate consideration of Rs 1.50 crore. The Board of Directors of the company in their meeting held on July 18, 2025, have approved the same.
Post-acquisition, the company will hold 100% of the equity share capital of Suryam India Minecorp, thereby making it a wholly owned subsidiary (WOS). The company aims to diversify its business in the mining segment through this acquisition. Suryam India Minecorp has 51% shareholding in Exclusive Quarries which is engaged in Stone Mining and variety of other related activities.
Royal India Corporation is engaged in the business of share broking. It also involves in investment and trading in shares; and finance activities.
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