Talbros Automotive to sell its entire 40% stake in JV Nippon Leakless Talbros for Rs 81.8 crore
Following this transaction, Nippon Leakless will become the sole owner, holding 100% of the company.
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Following this transaction, Nippon Leakless will become the sole owner, holding 100% of the company.
Post the stake sale by TACL, Nippon Leakless will own 100% of the company. TACL will realize INR 81.8 crores for its entire 40% equity stake sale. (JV Company valued at INR 204.5 crores). This transaction is subject to certain conditions precedent and is expected to be completed in Q4FY24, the company said in a media release.
Talbros Automotive shares gained 6.50% intraday to Rs 247.55 against the previous close of Rs 232.55 on BSE. Market cap of the firm rose to Rs 1493.20 crore
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