Veritas India Ltd to dispose certain assets of subsidiary Verasco FZE

The Board of Directors of Veritas (India) Limited at their Meeting held today i.e. Wednesday, December 03, 2025, has in-principally approved the transfer / disposal of certain assets of Verasco FZE ("Subsidiary") to the extent of USD 130 million (equivalent to Rs. 1170 Crores) and liabilities to the extent of USD 80 million (equivalent to Rs. 720 Crores) for a base consideration of USD 50 million (equivalent to Rs. 450 Crores) to Inergy FZE, Sharjah, UAE. Considering that Verasco FZE, is a material subsidiary, the above mentioned approval provided by the board is subject to the approval of the shareholders to be obtained by way of passing a Special Resolution through Postal Ballot.

The transaction is subject to execution of definitive agreements and completion of applicable regulatory and statutory requirements and revision in value depending on the mutual discussion with Inergy.

Shares of VERITAS (INDIA) LTD. was last trading in BSE at Rs. 204.35 as compared to the previous close of Rs. 206.90. The total number of shares traded during the day was 15133 in over 167 trades.

The stock hit an intraday high of Rs. 210.75 and intraday low of 202.80. The net turnover during the day was Rs. 3091936.00.

Source : Equity Bulls

Keywords

VERITASINDIA INE379J01029 Disposal CertainAssets VerascoFZE