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RSWM Ltd to sell stake in Bhilwara Energy Ltd to HEG Ltd

Posted On: 2019-04-10 14:38:50

The Board of Directors of RSWM Ltd at its meeting held today have decided to sell 1,69,38,599 Equity Shares of Rs. 10/- each held in M/s. Bhilwara Energy Limited an Associate Company of RSWM Limited at a cash consideration of Rs. 84.85 Crores to M/s. HEG Limited on the basis of valuation of fair price per share on arm's length basis. The Company's holding in M/s. Bhilwara Energy Limited, after the proposed sale, shall be 1,25,24,960 Equity Shares comprising of 7.56%.

The meeting of Board of Directors commenced at 10:30 A.M and concluded at 2:00 P.M.

Shares of RSWM LTD. was last trading in BSE at Rs.182 as compared to the previous close of Rs. 183. The total number of shares traded during the day was 202 in over 29 trades.

The stock hit an intraday high of Rs. 183 and intraday low of 177.7. The net turnover during the day was Rs. 36621.


Source: Equity Bulls

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