Raymond provides update on subsidiary

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.

Powered by Capital Market - Live News