News: Triveni Engineering announced that promoters of the company have declared their intention to buy a 10-12% stake in Triveni Turbine held by Triveni Engineering. Further, Triveni Engineering will divest the remaining stake of Triveni Turbine by March 2023. Triveni Engineering holds 21.83% stake in Triveni Turbine. The floor price for the divestment is Rs 171/ share
Views: This would result in | 1200 crore of additional cash flow for the company in FY23, which would be utilised either for any capex requirement or one time payment to shareholders. We believe this could result in | 42-44/share of one time dividend payment by the company given capex related debt is available at conventional interest rate
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