SECTOR
Konark Synthetic gets nod to sell stake held in Konark Infratech
Oct-31-2024

Konark Synthetic has received approval for sale of 28,000 equity shares held in Konark Infratech, an Associate Company, by transfer of company’s entire investment in equity shares held in Konark Infratech, through a Share Purchase Agreement. Consequently, Konark Infratech ceases to be an associate company of Konark Synthetic. 

The transfer of shares will be executed at face value of Rs 10 per share thus amounting to Rs 2.80 lakh. The Share Purchase Agreement is entered on October 30, 2024. The Board of Directors of the company at its meeting held on October 30, 2024, has approved the same.

Konark Synthetic is engaged in air-texturising of synthetic yarns and fancy twisting and hollow spindle, fancy doubling and twisting computerised printing of synthetic and blended yarns.


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