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BSE SENSEX
81,224.75
+218.14
+0.27 %
Corporate Announcement
Security Code
539957
Company
Mahanagar Gas Ltd
Exchange Received Time
07/10/2024 22:16:10
Exchange Disseminated Time
07/10/2024 22:16:10
Time Taken
00:00:00
Execution Of Indicative And Non-Binding Term Sheet By The Company |
10/07/24 22:16
It is hereby informed that the Company has entered into an indicative and non-binding term sheet with International Battery Company Inc, a Delware Corporation having its principal place of business at the United States of America (IBC US) on October 7, 2024 for a proposed investment by the Company in International Battery Company Private Limited (''proposed Joint Venture Company'') of an amount not exceeding Rs. 385 Crs., in one or more tranches, by subscribing to the equity shares or other securities of the proposed Joint Venture Company, for a stake not less than 40%, subject to execution of definitive agreements whose terms and conditions are to be mutually agreed upon, and fulfillment of other terms and conditions precedent for the proposed investment. The Company will provide requisite and complete disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 after signing of definitive agreements within the stipulated timelines.
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