Redington India to sell stake in Ensure Support Services India Ltd

Redington India Ltd has entered into a Share Purchase Agreement on July 31, 2020 for the sale of its entire shareholding in M/s. Ensure Support Services (India) Limited. ("Ensure") a wholly owned subsidiary, to M/s. Accel Limited, subject to required regulatory approvals.

"Ensure" is in the business of providing after sales support services like warranty and out-of warranty services independently and on behalf of Original Equipment Manufacturers (OEM) and other allied services. This business vertical is not strategic to the future plans of the Company and hence this divestment of 100% shareholding in "Ensure".

Shares of REDINGTON (INDIA) LTD. was last trading in BSE at Rs.90.45 as compared to the previous close of Rs. 86. The total number of shares traded during the day was 82146 in over 1286 trades.

The stock hit an intraday high of Rs. 91.85 and intraday low of 86.05. The net turnover during the day was Rs. 7336471.

Source : Equity Bulls

Keywords