Mawana Sugars Ltd has informed BSE that the Company has sold its entire investment i.e. 31,29,994 equity shares of Rs. 10/- each fully paid up (65.03% of the paid up capital) held by it in Mawana Foods Limited (MFL), a subsidiary of the Company at a price of Rs. 26.12 per share to Usha International Limited.
Accordingly, MFL ceased to be the subsidiary of the Mawana Sugars Ltd w.e.f. June 29, 2013.