Corporate Announcement
Security Code : 511389    Company : VIDEOIND    
Disclosure Pursuant To Regulation 30 Read With Schedule III Of Part A Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015.Download PDF Download XBRL
  Exchange Received Time  20/03/2018 11:20:12         Exchange Disseminated Time   20/03/2018 11:20:14              Time Taken   00:00:02
Pursuant to the relevant provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that Videocon Industries Limited (Company) has sold its entire equity stake in Liberty Videocon General Insurance Company Limited (Liberty Videocon), an Insurance Joint Venture Company promoted by Videocon Industries Limited and Liberty Mutual Insurance Group. The Company was holding 51.32% of the share capital of Liberty Videocon, which has been sold to the extent of 26% to Diamond Dealtrade Limited (a DP Jindal Group Company) & the remaining 25.32%, to Enam Securities Private Limited. All the necessary regulatory approvals for the said sale were already received. Post the said divestment, the Company ceases to be the Indian Promoter of Liberty Videocon, and, accordingly, the name of Liberty Videocon will also change to 'Liberty General Insurance Company Limited' or such other name as may be approved by the regulatory authorities.


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