Shree Renuka slumps on fears of equity dilution after Wilmar deal

MUMBAI (Reuters) - Shares of Shree Renuka Sugars fell on fears of equity dilution after Singapore's Wilmar International said on Thursday it has agreed to invest up to $145 million for a major stake in the company.

The transaction, which will be completed in multiple steps, will see Wilmar - the world's top palm oil processor with business interests in sugar, lauric oils and other commodities - and the founders of the Indian company owning equal stakes in Shree Renuka.

Shree Renuka Sugars stock was down 6.5 percent to 20.95 rupees at 9.33 a.m.

(Reporting by Abhishek Vishnoi; Editing by Subhranshu Sahu)