|
| Exchange Disseminated Time | Aro Granite Industries Ltd has announced that Mr Prem Arora, Co-Promoter and Co-Founder of the Company has decided to exit the Company to pursue his other existing business interests and has sold his holding along with his family members, of 25% aggregating to 1.8 Million shares in the Company to Mr Sunil K Arora - Promoter, Pearl Mineral Pvt. Ltd., (a Strategic Investor) and other investors as follows:
1. Mr Sunil K Arora - 0.6 Million Shares
2. Pearl Mineral Pvt. Ltd. (PMPL) - 1.0 Million Shares (14.25%)
3. Other Investors - 0.2 Million Shares
Bought through Bombay Stock Exchange at a transaction price of Rs 75/- per share.
PMPL is a Granite Mining Company with its Corporate Office in New Delhi having mining leases in Andhra Pradesh and Tamil Nadu for exclusive Indian Colours such as Black Galaxy, Green Pearl, Ocean Blue, Kashmir White etc., which are in large demand in the International Market.
PMPL has been a key supplier of Rough Granite Blocks to the Company. This association of PMPL with their quarrying strength shall provide synergies to the Company in meeting the ever-growing Rough Granite Blocks requirement. |
|
|