PNC Infratech today said that it has sold its 26,500 shares equivalent to 76.50 per cent paid up capital in its subsidiary PNC Power for Rs 15.10 lakh.
"This is to inform that the company has sold its investment 26,500 equity shares held in PNC Power Private Ltd ('PNC Power') equivalent to 76.50 per cent of the paid up capital of the subsidiary company," PNC Infratech said in BSE statement.
"Since the said subsidiary could not have any business activity over a good period of more than 4 years. Therefore, the Company is desirous of exiting its investment in equity shares of the subsidiary," it added.
"PNC Power Private Limited ceased to be subsidiary of the company," PNC Infratech said.
According to the statement, the company has sold its equity to Aniket Tie-up Pvt Ltd for a consideration of Rs 15,10,500.
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