MoneyWorks4Me

Orient Abrasives’ promoters divest 18% equity stake in the company

14 Nov 2013 Evaluate

Orient Abrasives’ promoters have sold 2,15,35,056 equity shares aggregating 18% held by them in the company at a price of Rs 25.50 per equity share to Bombay Minerals. The promoters have sold the shares on November 13, 2013.

Orient Abrasives offers a wide range of Refractory and Monolithic products for the iron and steel industry and enjoy large domestic and international clientele. An in-house R&D facility supports the division’s product development initiatives.

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