Capital India Finance Ltd announces stake sale in wholly-owned subsidiary companies

The Board of Directors of Capital India Finance Limited ('Company') in their meeting held on December 2, 2021 through video conferencing, have considered and approved the proposal to divest the entire shareholding in Kuants Wealth Private Limited (formerly CIFL Investment Adviser Private Limited) ('Kuants'), Capital India Wealth Management Private Limited ('CIWMPL') and CIFL Holdings Private Limited ('CIFLHPL'), wholly-owned subsidiaries of the Company to Capital India Corp LLP, a promoter entity of the Company. Consequent to the completion of the aforesaid divestment, Kuants, CIWMPL and CIFLHPL shall ceased to be wholly-owned subsidiaries of the Company.

The aforesaid transactions being a related party transaction have been considered and recommended by the Audit Committee to the Board.

Shares of Capital India Finance Ltd was last trading in BSE at Rs. 122.00 as compared to the previous close of Rs. 117.55. The total number of shares traded during the day was 1125 in over 27 trades.

The stock hit an intraday high of Rs. 122.00 and intraday low of 115.00. The net turnover during the day was Rs. 134393.00.

Source : Equity Bulls

Keywords

CapitalIndiaFinanceLtd INE345H01016 Subsidiaries Divestment