TVS Electronics To Sell Its Subsidiary Benani Foods
TVS Electronics Limited has entered into Share Purchase Agreement for disposing of its entire shareholding in M/s. Benani Foods Private Limited, Subsidiary of the Company. The details are given below.
| The amount and percentage of the revenue and net worth contributed by such subsidiary of the listed entity during the last financial year ended 31st Mar 2018 to the consolidated revenue and net worth of the listed entity. | Amount of Revenue contributed: Rs. 444 Lakhs Percentage of the Revenue contributed: 0.1% Net Worth amount contributed: Rs. (-138 Lakhs) Net worth percentage contributed: (-1.68%) |
| Date on which the agreement for sale has been entered | 22nd March 2019 |
| The expected date of completion of sale/disposal; | Not later than 31st March 2019 |
| Consideration receivable from such sale/disposal; | Rs. 1,63,23,000 (One Crore Sixty Three Lakhs Twenty Three Thousand Only.) |
| Brief details of buyers and whether any of the buyers belong to the promoter/ promoter group/group companies. If yes, details thereof; | Buyer Name: M/s. Way cool Foods and Products Private Limited, a Company incorporated on Dist July 2015, CIN: U52399TN2015PTC101215.The Buyer does not belong to promoter/Promoter Group/Group companies. |
