In May 2023, The Promoter Group Members agreed to sell approx 24.2778% of their stake to AGP Holdco Limited (Investor) and informed that they were in the course to obtain necessary regulatory approvals. AGP Group is Dubai based Group and have several businesses including Packaging.
The consideration has been revised downwards to Rs 1,188.9 crore, compared with Rs 1,379.47 crore announced in May.
The September Shareholding pattern publshed shows that the Promoters have pledged 100% so a vital question arises how will they sell 24.3% if they have pledged full100% ?
Discl: exited and hence not tracking closely
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