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Kridhan Infra share price locked in lower circuit on subsidiary liquidation order

There were pending sell orders of 96,488 shares, with no buyers available.

November 25, 2019 / 11:23 AM IST
 
 
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Kridhan Infra share price touched 52-week low of Rs 4.25, down 5 percent, on November 25 after the Mumbai-based company received an order for liquidation of its Singapore subsidiary.

There were pending sell orders of 96,488 shares, with no buyers available.

Judicial authorities in Singapore have approved liquidation of Readymade Steel Singapore Pte Ltd.

Ng Kian Kiat and Lin Yueh Hung have been appointed as joint and several liquidators of the subsidiary.

The company has already fully impaired its investments and loans outstanding in the said subsidiary and there will be no major impact of the said liquidation on the financials of the company.

At 1036 hours, Kridhan Infra was quoting at Rs 4.25, down Rs 0.22, on the BSE.
Moneycontrol News
first published: Nov 25, 2019 11:23 am
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