Breaking News

You are here » Indian-Commodity  :  Corporate  :  Elpro International to offload 1.25% stake in PNB MetLife

20-Mar2018

Elpro International to offload 1.25% stake in PNB MetLife

Elpro International has received an approval to offload 1.25% of its equity stake in PNB MetLife Insurance Company (PNB MetLife), which may fetch it about Rs 125 crore. The board of director at its meeting held on March 19, 2018 has approved for the same. The company currently holds 12.75% equity in PNB MetLife, which is engaged in the business of life insurance.

This step has been taken for effective treasury management and cash flow requirement for the business of the company. The company is also in discussion with one potential buyer for sale of part of its investment.

Elpro International is engaged in the manufacturing of electrical industrial machinery, apparatus and parts, and construction of residential and non-residential buildings, including additions and alterations.


Related News

View all news

Himalaya Food International deposits 5% of OTS

Himalaya Food International has deposited 5% of the OTS (One Time Settlement) to liquidate the company's entire Debt for Final approval by the Consortium of Banks led by State Bank of India.Himalaya Food......

Power Grid fully utilises JPY 22 billion loan

Power Grid Corporation has fully drawn a 22 billion Japanese Yen (JPY) loan and utilised it to finance capital expenditure for its ongoing and new projects.Power Grid had entered into a JPY 22-billion......

Mahindra deploys six armoured Marksman at Delhi Airport

Mahindra Group has deployed six armoured Marksman vehicles at Indira Gandhi International Airport in Delhi. With this deployment, Delhi airport becomes first to get bullet-proof vehicle in its premises......

Top News

View all news

Power Grid fully utilises JPY 22 billion loan

Power Grid Corporation has fully drawn a 22 billion Japanese Yen (JPY) loan and utilised it to finance capital expenditure for its ongoing and new projects.Power Grid had entered into a JPY 22-billion......

Mahindra deploys six armoured Marksman at Delhi Airport

Mahindra Group has deployed six armoured Marksman vehicles at Indira Gandhi International Airport in Delhi. With this deployment, Delhi airport becomes first to get bullet-proof vehicle in its premises......

Oil India signs MoU with Gauhati University: Report

Oil India and Gauhati University have reportedly signed a Memorandum of Understanding (MoU) on March 19, 2019. The MoU aims to extend the facility of Technology Incubation Centre at Gauhati University......