Monday , 29 November 2021
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Hindalco Industries’ arm completes acquisition of stake in Ryker Base

Hindalco Industries’ arm completes acquisition of stake in Ryker Base

Hindalco Industries’ wholly owned subsidiary — Renuka Investments and Finance has completed the acquisition of 5,20,20,000 equity shares of Rs 10 each of Ryker Base for a consideration of Rs 167.54 crore subject to adjustment of final purchase price in accordance with the SPA. Consequent to the said acquisition, Ryker Base has become a wholly owned subsidiary of Renuka Investments and Finance.

Hindalco Industries is an industry leader in aluminium and copper. The company’s aluminium units across the country encompass the entire gamut of operations from bauxite mining, alumina refining, aluminium smelting to downstream rolling, extrusions, foils and alloy wheels, along with captive power plants and coal mines.