Associated Alcohols & Breweries Ltd bids for company under insolvency resolution

Associated Alcohols & Breweries Limited is planning to participate in the resolution process of SDF Industries Limited, located in Kerala, with the objective of expanding its IMFL (Indian Made Foreign Liquor) bottling capacity.

In this regard, the Company has submitted an application to the Resolution Professional (RP) for participation in the process and for submission of a resolution plan. The RP has granted permission to the Company to submit the resolution plan.

This intimation is being made to keep the stakeholders informed about the proposed strategic initiative. The Company will provide further updates as and when there are material developments in this matter.

Shares of Associated Alcohols & Breweries Ltd. was last trading in BSE at Rs. 1193.60 as compared to the previous close of Rs. 1211.45. The total number of shares traded during the day was 8666 in over 566 trades.

The stock hit an intraday high of Rs. 1222.00 and intraday low of 1188.55. The net turnover during the day was Rs. 10428853.00.

Source : Equity Bulls

Keywords

AssociatedAlcoholsandBreweries INE073G01016 IMFL Expansion InsolvencyResolution Application SDFIndustries