Nidhi Granites’ wholly owned subsidiary -- SPNP Paper and Pack has entered into a Share Purchase Agreement with NGL Corporation for the sale of its 100% shareholding in Fine Papyrus, which is a step-down subsidiary of the Company.
Upon completion of the transaction, Fine Papyrus shall cease to be a step-down subsidiary of Nidhi Granites. The transaction is expected to be completed within 30 days from execution of the Share Purchase Agreement or such other date as may be mutually agreed between the parties.
Nidhi Granites is a manufacturer of granite and marble slabs, tiles, and sandstone and limestone products.
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