Adani Total Gas Ltd executes SSSA with GSEC Ltd

Adani Total Gas Ltd has executed a Share Subscription and Shareholders' Agreement on 20th August, 2021 ("SSSA") with GSEC Limited ("GSEC") and Smartmeters Technologies Private Limited ("SMTPL") to acquire 50% stake in Smartmeters Technologies Private Limited.

The cost to acquire 50% stake in SMTPL will be INR 1.00 Crore i.e. 10,00,000 (Ten Lakhs) Equity Shares of INR 10 (Rupees Ten Only) each by way of further issuance of equity shares by SMTPL.

SMTPL was incorporated on 7th October, 2019 and engaged in the business of manufacturing of smart measuring instruments like prepaid smart gas meter, AMR etc., and its allied products with end-to-end solutions.

Shares of ADANI TOTAL GAS LIMITED was last trading in BSE at Rs. 1065.1 as compared to the previous close of Rs. 1014.4. The total number of shares traded during the day was 8563 in over 591 trades.

The stock hit an intraday high of Rs. 1065.1 and intraday low of 1045. The net turnover during the day was Rs. 9109025.

Source : Equity Bulls

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