Voltas Limited updates on restructuring

Voltas Limited has on March 24, 2021 executed the Business Transfer Agreement (BTA) with its wholly-owned subsidiary. Universal MEP Projects & Engineering Services Limited (UMPESL) [formerly known as Rohini Industrial Electricals Limited] for transfer of its domestic Projects business relating to Mechanical, Electrical and Plumbing (MEP) / Heating, Ventilation and Air-Conditioning (HVAC) and Water projects, Mining and Construction Equipment (M&CE) business and Textile Machinery Division (TMD) business to UMPESL, subject to satisfactory completion of Conditions Precedent on or before the 'Closing Date' in accordance with the provisions of BTA. The transaction is expected to be consummated by end of September 2021 or such other date as may be mutually agreed between the Company and UMPESL.

Shares of VOLTAS LTD. was last trading in BSE at Rs.985.3 as compared to the previous close of Rs. 1001.05. The total number of shares traded during the day was 69492 in over 2995 trades.

The stock hit an intraday high of Rs. 1011.55 and intraday low of 982.65. The net turnover during the day was Rs. 69053209.

Source : Equity Bulls

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