Grindwell Norton Limited to sell 49% in SG Shinagawa Refractories India Pvt Ltd

2023-10-21

Oct. 20, 2023 - The Board of Directors of Grindwell Norton Limited at its meeting held on October 19, 2023, considered and approved the sale of 49% of equity stake held in SG Shinagawa Refractories India Private Limited, subject to completion of closing condition for a consideration of INR 80 million.

Due to business and operational reasons, it was decided by the Parties to terminate the said Agreement and there is no major impact due to the termination of the Shareholders Agreement.

Shares of Grindwell Norton Limited was last trading in BSE at Rs. 2160.35 as compared to the previous close of Rs. 2185.90. The total number of shares traded during the day was 1019 in over 337 trades.

The stock hit an intraday high of Rs. 2222.00 and intraday low of 2141.00. The net turnover during the day was Rs. 2207911.00.