The Board of Directors of the Company, earlier in March 2023, had approved the sale of its entire stake in ABIBL. This was followed by the execution of a Share Purchase Agreement (SPA) between the Company, ABIBL, Infocyber India (which is the other shareholder of ABIBL holding 49.998% and which was subsequently amalgamated into Birla
Group Holdings) and Edme Services, subject to regulatory approval,
which was received in July 2024.
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