Redington Gulf omcreases stake in Citrus to 100%

Redington Gulf FZE, (Redington Gulf) a step-down subsidiary of Redington (India) Ltd, that it had acquired additional 15.2% stake in Citrus Consulting Services FZ LLC (Citrus), its subsidiary company. With this acquisition, the total holding of Redington Gulf in Citrus had increased from 84.8% to 100%.

The acquisition was done through cash consideration of AED 152,000 for 15.2% stake.

Citrus Consulting Services FZ LLC is into providing software consultancy services. The company had revenue of AED 10,642,048 for FY 2019-20.

Shares of REDINGTON (INDIA) LTD. was last trading in BSE at Rs.127.8 as compared to the previous close of Rs. 131.75. The total number of shares traded during the day was 11470 in over 592 trades.

The stock hit an intraday high of Rs. 133.5 and intraday low of 126.65. The net turnover during the day was Rs. 1493493.

Source : Equity Bulls

Keywords