Outcome of board meeting of Lakshmi Energy & Foods

Held on 21 November 2016

Lakshmi Energy & Foods announced that the Board of Directors of the company at its meeting held on 21 November 2016 transacted the following -

Take on record acquisition of balance 25% stake holding in its subsidiary - Lakshmi Green Power for Rs 25 lakh.

Approved the hiving off of the Company's Power Division (Energy Business) generating green energy on slump sale basis, as a going concern to wholly owned subsidiary, Lakshmi Green Power at a consideration of Rs 117.18 crore in the form of allotment of equity shares of Lakshmi Green Power to the Company.

 

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