Sangam Renewables Ltd completes divestment of Waacox Energy Pvt. Ltd.

Sangam Renewables Limited ("Company") had earlier announced about the divestment of the Company's entire stake / investment in its material subsidiary i.e., Waacox Energy Private Limited.

The underlying transaction has been consummated on July 5th, 2021 and the Company has received the remittance confirmation for 41,60,35,305/- (Forty-one crore sixty lakhs thirty-five thousand three hundred five only), as gross consideration for the divestment and the same will be utilized towards repayment of the debt of the Company.

With this divestment, Waacox Energy Private Limited, ceased to be subsidiary of the Company with effect from July 5th, 2021.

Shares of Sangam Renewables Ltd was last trading in BSE at Rs.118.5 as compared to the previous close of Rs. 119.65. The total number of shares traded during the day was 85962 in over 319 trades.

The stock hit an intraday high of Rs. 121.1 and intraday low of 113.7. The net turnover during the day was Rs. 9976425.

Source : Equity Bulls

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