Delta Corp's associate to invest in WSPL Containers
Source: IRIS | 03 Dec, 2021, 04.51PM
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 Delta Corp, a company engaged in entertainment & gaming, hospitality and real estate, announced that Waterways Shipyard (WSPL) (an associate company of the Company), has agreed to subscribe to 50% of the paid-up equity share capital of WSPL Containers (WCPL). 25% of the paid up equity share capital of WCPL is proposed to be subscribed by Jaydev Mody, part of the promoter group of the Company.
WCPL was incorporated on 30 November 2021 with the intention to carry on container manufacturing business. The acquisition is expected to be completed by December 31, 2021.WSPL will subscribe to 50,00,000 equity shares of Rs 10 each constituting 50% of the equity share capital of WCPL. The cost of said acquisition is Rs 50 million, the company said.
Shares of Delta Corp are trading at Rs 252.40, down Rs 1.15, or 0.45% at the Bombay Stock Exchange (BSE) on Friday at 3.29 p.m.
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