Rishi Laser Ltd has sold its stake in Rishi Vocational Education Pvt Ltd

The Board of Directors of Rishi Laser Ltd at its meeting held today i.e. 10 June, 2022, has approved and executed the transaction of sale of investment representing 404900 Equity Shares in Rishi Vocational Education Private Limited ('RVEPL') held by company.

The Company has sold 305900 Equity Shares out of total 404900 shares to Mrs. Smita Patel (Wife of Mr. Harshad Patel) at Rs. 7.30/- per share at a consideration of Rs. 22,33,070/-. The remaining 99000 shares representing 19.90% of shareholding is with the Company. As a result of sale of this holding, the Company's total shareholding in RVE has reduced from 81.39% to . 19.90%, consequently, Rishi Vocational Education Private Limited ceases to be subsidiary of the Company upon approval of proposed transfer by the Board of Rishi Vocational Education Private Limited.

Shares of RISHI LASER LTD. was last trading in BSE at Rs. 17.05 as compared to the previous close of Rs. 16.25. The total number of shares traded during the day was 5683 in over 83 trades.

The stock hit an intraday high of Rs. 19.40 and intraday low of 16.30. The net turnover during the day was Rs. 100521.00.

Source : Equity Bulls

Keywords

RISHILASER INE988D01012 StakeSale RishiVocationalEducation