Hindalco arm to acquire Polycab’s 100% equity stake in Ryker for ₹323 crore
The Hindu
Hindalco Industries Ltd., through its wholly owned subsidiary Renuka Investments & Finance Ltd., has entered into an agreement with Polycab India Ltd. to acquire the latter’s 100% equity stake
Hindalco Industries Ltd., through its wholly owned subsidiary Renuka Investments & Finance Ltd., has entered into an agreement with Polycab India Ltd. to acquire the latter’s 100% equity stake in Ryker Base Pvt. Ltd. (Ryker) for an enterprise value of ₹ 323 crore.
Post debt and working capital adjustments, the sale consideration is likely to be about ₹167.5 crore Consolidated debt in Polycab’s financials is likely to reduce by about ₹1,57.5 crore which pertains to external commercial borrowing and working capital, Polycab said.
The transaction is expected to be completed by December end, it added.
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