SREI Infrastructure Finance announced that the Company holds 100% shares in Quippo Oil & Gas Infrastructure (QOGIL) and accordingly, QOGIL is a wholly owned subsidiary of the Company. QOGIL holds 100% shares in Quippo Drilling International (QDIPL) and therefore QDIPL is the wholly owned subsidiary of QOGIL and wholly owned step down subsidiary of the Company.
QOGIL proposes to sell 2,600 Equity shares, constituting 26% shareholding in QDIPL to an overseas entity.
Consequent to the above transaction, QDIPL shall cease to be the wholly owned subsidiary of QOGIL but shall continue to be a subsidiary of QOGIL. Consequently, QDIPL shall also cease to be a wholly owned step down subsidiary of the Company but shall continue to be a step down subsidiary of the Company.
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