Adani Enterprises Ltd. has sold 100% stake in Natural Growers, a wholly owned subsidiary of the company, to Samarpratap Agrotech Pvt.
It sold Natural Growers for a consideration of Rs 8.25 crore, according to an exchange filing on Saturday.
"The transfer of equity shares and compulsory convertible debentures related to the said disposal were approved by the board of Natural Growers Pvt.," the exchange filing said. "Consequently, Natural Growers Pvt. have ceased to be a wholly owned subsidiary of the company."
Samarpratap Agrotech Pvt., registered in Nagpur, Maharashtra, is engaged in the business of manufacturing food products.
Shares of Adani Enterprises closed 0.14% higher on Friday, as compared with a 0.7% gain in the benchmark Nifty 50.
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