Elgi Rubber Company Merger & Restructuring Worth ₹12 Cr
Elgi Rubber Company Limited sold land and buildings in Ranga Reddy, Telangana for ₹12 Crore to Vega Elite LLP.
- Value
- ₹12.00 Cr
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Elgi Rubber Company Limited sold land and buildings in Ranga Reddy, Telangana for ₹12 Crore to Vega Elite LLP.
Elgi Rubber Company Limited's board approved the voluntary winding-up of its inoperative wholly-owned subsidiary, Pincott International Pty Limited. The closure has no material impact on company financials.
Elgi Rubber Company is initiating voluntary winding up of its dormant, non-material wholly-owned subsidiary in Kenya. This closure has no material financial impact on the company.
Elgi Rubber Company approved reversing Rs.1.66 Crore of interest receivable from its overseas subsidiaries to reduce their interest burden and improve financial positions.