Shree Renuka Sugars Ltd has signed a deal to sell 7.5 per cent of its stake in National Commodity & Derivatives Exchange Ltd (NCDEX), the company has said in a filing with the stock exchanges.
While not identifying the buyer, the company said the sale would fetch Rs 66.54 crore.
The company said that it has entered into agreements/term sheets for offloading 38,02,300 equity shares of NCDEX constituting 7.5 per cent of its paid-up capital for a consideration of Rs. 66.54 crore, subject to requisite approvals of NCDEX board and the Forward Markets Commission (FMC).
After the completion of the sale, its stake in NCDEX would come down from 12.5 per cent to 5 per cent.
Shares of Shree Reguga Sugars were up by 5 paise to Rs 21.70 (face value Re 1) on the BSE minutes after trading began today.