Indsil Hydro Power and Manganese Ltd to sell its JV for $38 Mn

Indsil Hydro Power and Manganese Ltd along with its partner, His Excellency Sheikh Salim Mustahail have signed a Term Sheet to sell their 100% stake in M/s. Al Tamman Indsil Ferro Chrome LLC to M/s. LL Resources GMBH, Austria for a total sale consideration of USD 38 Million of which the Company is entitled to 50%. The proposed transaction/sale is subject to receipt of relevant approvals from appropriate authorities and the final sale consideration may vary pursuant to commercial adjustments to be made and commissions to be paid during this period.

The term sheet was signed on 24th December 2023. The date of signing of definitive agreements to be entered into between the parties will be informed in due course.

Shares of INDSIL HYDRO POWER AND MANGANESE LTD. was last trading in BSE at Rs. 43.16 as compared to the previous close of Rs. 42.89. The total number of shares traded during the day was 14678 in over 110 trades.

The stock hit an intraday high of Rs. 43.85 and intraday low of 42.01. The net turnover during the day was Rs. 632626.00.

Source : Equity Bulls

Keywords

INDSILHYDROPOWERANDMANGANESE INE867D01018 StakeSale JV USD38Mn