"FTIL and all other shareholders of NBHC have entered into a share purchase agreement for sale of 100 per cent equity ownership in NBHC, a subsidiary of the company, to IVF Trustee Company, the sole trustee of India Value Fund IV for a total consideration of Rs.241.74 crore," the company had said last week.
The transaction between FTIL and India Value Fund is likely to be completed between April 15-30, subject to
shareholders approval by way of postal ballot.
India Value Fund Advisors was established in 1999 by Vishal Nevatia. Its four separate investment funds have a combined corpus of over $1.2 billion. It it is investing out of IVF-IV, which has a corpus of $600 million.
NBHC is an integrated commodity and collateral management company, providing complete solutions in commodity and collateral management along with its stakeholders, FTIL and MCX. It manages 569 storage facilities (warehouses and cold storages) across the country with over 1.47 million tonne capacity.