Lakshmi Precision Screws Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 25, 2016, has transacted the following:
1. The company approved the sale of the entire stake of 49% of LPS Shares in LPS Bossard Private Limited, Joint venture which was valued equal to Rs. 40.18 crores (Total Valuation of LPS Bossard Limited as per Discounted Cash Flow Method is Rs. 82.08 Crores as per Valuation Report) to any other related party i.e. Mr. Rajesh Jain and Associates where Rajesh Jain holds majority of shareholding.
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via Lakshmi Precision Screws approves sale of 49% in LPS Bossard.