Anupam Rasayan India Limited on Tuesday announced that the Board of Directors of the company in their meeting held on August 01, 2023 has approved the purchase of 10,000 equity shares of face value of ₹10 each, of a company named ARIL Fluorospeciality Private Limited (AFPL), on book value of ₹1,00,000, aggregating to 100 percent shareholding of AFPL on the terms and conditions as set out in the Share Purchase Agreement to be entered between the Company, existing shareholders and AFPL (SPA), with no economic benefit to the sellers, the company announced through an exchange filing.
Pursuant to the consummation of the acquisition of shares as per the SPA, AFPL shall become a wholly owned subsidiary of the Company.
About AFPL
AFPL is a private limited company incorporated on June 20, 2023 under the Companies Act, 2013, in India, formed with the object to develop fluorine based chemicals, its derivatives based products and to work in fluorine based chemistries.
Anupam Rasayan India Limited shares
The shares of Anupam Rasayan India Limited on Tuesday at 12:05 pm IST were at ₹967.80, down by 0.73 percent.
