Vardhman Industries enters into agreement with Zoom Developers, Mumbai

Vardhman Industries Ltd has announced that subject to the approval of shareholders, the Company has entered into an Agreement with Zoom Developers (P) Ltd, Mumbai for sale / transfer through scheme of Arrangement of Steel Melting Shop & Continuous Casting Shop and Power Plant at village Dugdha Ghamaria, Saraikella Kharsawan, Jamshedpur in Jharkhand state in a special purpose vehicle (SPV) Company in joint venture on the mutually agreed terms and conditions. As per the agreement SPV shall issue part of its shares to the Company.

Source : Equity Bulls

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