Greenply Industries Signs Binding HoT To Dilute Samet JV Stake To 18.98%

Board approved Rs200cr corporate guarantee to IDBI Bank for wholly-owned Greenply Speciality Panels' MDF expansion and binding terms for Samet BV to raise JV stake from 50% to 81.02%, diluting Greenply to 18.98%, with JV to cease as associate pending definitive pacts.