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Greenply Industries Ltd has decided to sell its entire holding of 16.43 per cent in Himalaya Granites Ltd, a listed company, and exit as one of its promoters.
Transfer shares In a disclosure to the stock exchanges, Greenply said that its board on Monday took a decision to “transfer 3,80,583 equity shares of ₹10 each of Himalaya Granites Ltd held by the company as investment, to Saurabh Mittal, a related party of the company, at prevailing market price in one or more transaction(s)”.
At current price of ₹17 a share for Himalaya Granites, the share sale would fetch Greenply around ₹64.70 lakh.
Export market Greenply also informed that it has decided to incorporate a private company in Singapore as its wholly-owned subsidiary “to cater to export markets of MDF and laminated flooring products”.
On Monday, Greenply stock closed, up two per cent, at ₹188.55 on the BSE.
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