Greenply to sell entire 16.43% in Himalaya Granites

Our Bureau Kolkata | Updated on January 20, 2018 Published on March 14, 2016

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.

Published on March 14, 2016
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