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Capital First Ltd Announces Sale of Shareholding of Subsidiary Company - Future Finance Limited


Sunday, 3 Mar 2013 10:31pm EST 

Capital First Ltd announced that pursuant to the Board Resolution passed on May 25, 2012, for disinvestment of shares of M/s. Future Finance Limited (FFL), a wholly owned subsidiary Company, the Company has sold the entire 10,750,000 fully paid-up equity shares of INR10 each held in FFL to APAC Consultants Private Limited and its Associate companies. The share sale has been undertaken, post receipt of necessary approvals including Reserve Bank of India, for a consideration of INR152.5 million as against the FFL's book value of net assets of INR149.1 million. Consequently, FFL has ceased to be a Subsidiary Company of Capital First Limited w.e.f. March 01, 2013. 

Company Quote

293.15
3.5 +1.21%
6:21am EDT