Ring Plus Aqua to exit from JV - Rose Engineered Products India
Raymond announced that Ring Plus Aqua (RPAL), an unlisted subsidiary of Raymond has entered into a Share Purchase Agreement with Neel Metals Products, to transfer by way of sale its entire equity share holding of 1,04,30,631 equity shares in its 50:50 Joint Venture Company namely; Rose Engineered Products India (ROSE).Consequent to said transaction ROSE ceases to be an Associate of RPAL and Raymond. The Enterprise Value of ROSE was arrived at Rs. 20.19 crore.
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