Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
ELPROINTL · price
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Awaiting price reaction for this filing.
Elpro International Ltd has sold its entire remaining stake of 1,63,87,424 equity shares (face value Rs. 10 each) in PNB MetLife India Insurance Company Limited for a total consideration of approximately Rs. 134.38 crores. This represents a complete exit from PNB MetLife, with earlier partial sales already disclosed in October 2021, December 2021, and February 2022. The transaction was carried out on April 2, 2025, and disclosed to the stock exchange under SEBI Listing Regulations. The effective sale price works out to roughly Rs. 82 per share, well above the face value of Rs. 10. The proceeds will add to the company's cash reserves.
Shareholders stand to benefit as the company has fully monetised its long-held investment in PNB MetLife, unlocking around Rs. 134 crores in cash. This strengthens the balance sheet and gives management flexibility for future investments, debt reduction, or shareholder returns. The development is mildly positive from a value-unlock perspective.