Board okays 100 Crore acquisition of related party Satelite Forgings, seeks shareholder nod
ROLLT · price
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Rollatainers Board approved acquiring shares of Satelite Forgings Private Limited, a related party, for up to Rs 100 Crores. Satelite Forgings makes forged and machined auto components for OEMs and railways. The deal needs shareholder approval at the September 30 AGM as a Special Resolution, with related parties barred from voting. Fair valuation done by GN Fair Valuation. Funding through securities, internal accruals, or cash. Board cites strategic benefit and value creation.
Material related party deal worth up to Rs 100 Cr pending shareholder vote at Sept 30 AGM. Related parties cannot vote. Strategic rationale to watch.