Satyesh ProChem LLP acquires entire 24.97% stake held by Satlon Enterprise in The Sandesh Ltd

AHMEDABAD | MUMBAI | RAJKOT – Satyesh Prochem LLP has acquired entire 24.97% stake comprising of 18,90,152 equity shares held by Satlon Enterprises Pvt Ltd in The Sandesh Ltd for, following which the stake of Satyesh Prochem LLP in Sandesh Ltd now stands to 41.83% with 31,65,929 shares from 16.85% stake held with 12,75,777 shares, the company statement said.

The said acquisition of 18,90,152 shares was pegged at 0.74213 rupees per share for which Satyesh Prochem LLP paid 1.4 million (14 lakh) rupees to Satlon Enterprises Pvt Ltd, the statement said.

However, the holding of the promoters or promoter group of the company which is currently 74.81% of the paid-up share capital of the company remains unchanged after acquisition of the shares, hence the aforementioned transaction will not result in any change or control of promoters or promoters group over the company, there is no change in control of the company, the statement said.

The development of Satyesh Prochem LLP acquiring entire 24.97% stake of Sandesh Ltd from Satlon Enterprises Pvt Ltd was updated to the bourses in India after closing hours of market at night, but the shares of The Sandesh Ltd had ended in green on positive counters on the two leading Indian bourses – The Bombay Stock Exchange Ltd and The National Stock Exchange.


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