Balrampur Chini Mills Ltd to purchase 27.54% stake in Indo Gulf Industries Ltd

Balrampur Chini Mills Ltd has announced that the Company has entered into an agreement with the Promoter Dr. S K Garg for purchase of 2634498 equity shares in Indo Gulf Industries Ltd (IGIL) for a total consideration of Rs 16.149 million (Rs 7/- per fully paid equity share and Rs 2 per share of Rs 5 paid up), constituting 27.54% of the total no. of equity shares of IGIL, subject to compliance as required under the SEBI(Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and FEMA.

Source : Equity Bulls

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