RRP Defence Ltd to acquire majority stake in RRP Drones Innovation Pvt Ltd and RRP S4E & Innovation Ltd

RRP Defence Limited ("RRP") (Formerly known as Euro Asia Exports Limited), has executed a Term Sheet with the RRP Drones Innovation Private Limited and RRP S4E & Innovation Limited to acquire the majority stake in the said companies.

Subsequent to the completion of aforesaid acquisition, RRP will hold the majority stake of the equity shares of RRP Drones Innovation Private Limited and RRP S4E & Innovation Limited.

The Proposed Transaction is subject to completion of satisfactory due diligence by the respective companies, subject to execution of definitive agreements and fulfilment of the conditions as may be applicable from time to time.

Shares of RRP Defence Limited (Formerly known as Euro Asia Exports Limited) was last trading in BSE at Rs. 345.45 as compared to the previous close of Rs. 338.70. The total number of shares traded during the day was 25 in over 1 trades.

The stock hit an intraday high of Rs. 345.45 and intraday low of 345.45. The net turnover during the day was Rs. 8636.00.

Source : Equity Bulls

Keywords

RRPDefence INE535P01015 Acquisition MajorityStake RRPDronesInnovation RRPS4EandInnovation