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| Exchange Disseminated Time | Associated Alcohols & Breweries Ltd has informed BSE that the Board of Director of the Company has acquired 136,33,000 Equity Shares of M/s. Vedant Energy Private Limited.
M/s. Vedant Energy Private Limited have been awarded LOI for setting up of Distillery unit in Madhya Pradesh. The said acquisition will be help full for consolidation of the Company's position in the Industry.
The Board considered that in view of the holding of 51% Equity Shares of Rs. 10/- each by the Company has become holding Company (Listed ) and M/s. Vedant Energy Private Limited has become subsidiary of Listed Company resulting it is categorized as a public limited Company and all the provisions of limited Company would be applicable as to the private limited Company which is a subsidiary of the public limited Company. |
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