In stock market index the central promoter of Sree Sakthi Paper Mills Ltd., S Rajkumar has upgraded his holding in the organization by obtaining shares from the partner promoters in the organization. In a mass arrangement, Rajkumar purchased 20, 07,881 equity shares @ Rs.10 per equity share and 3, 25,200 inclination shares from associate promoters.
Presently holds 46.49 percent
Following the move, the equity shareholding of Rajkumar has expanded to 46.49 percent from 35.47 percent, and his inclination shareholding has gone up to 39.51 for every penny from 36.26 percent. Sree Sakthi Paper Mills was fabricating kraft paper till June 2016.
The business in the stock market index was ended in June 2016 under orders from Kerala High Court. Promoters have chosen to shut down the paper business and begin coordination activity.
Sree Sakthi Paper Mills Ltd. key Products/Revenue Segments incorporate Kraft Paper which contributed Rs 24.01 Crore to Sales Equity (82.96 percent of Total Sales), Other Operating Revenue which contributed Rs 4.14 Crore to Sales Equity (14.31 percent of Total Sales), Renewable Energy Certificates which contributed Rs .78 Crore to Sales Equity (2.68 percent of Total Sales) and Waste which contributed Rs .01 Crore to Sales Equity (0.03 percent of Total Sales) for the year finishing 31-Mar-2017.
According to the report of The Hindu Business Line, the organization has changed the object clause of its Memorandum of Association to begin another business action of logistics. The organization has likewise gotten consent from the Kerala Government to do the matter of coordination.
For stock market index Sree Sakthi Paper Mills Limited wants to begin a coordinations business in Kerala for which it has gotten the authorization from the state government. Its kraft paper producing unit in Kochi had halted activities in June 2016, according to the report of Economic Times. The organization has changed its protest condition of its Memorandum of Association to begin the new business.
The post Stock Market Index Update: Promoter Of Sree Sakthi Paper Mills Enhances Holding By Acquiring Shares appeared first on OWLT Market.
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