Aryavan Enterprise Ltd Acquires 60% Stake in Padmavati Chemicals for Rs. 12.70 Crores

Aryavan Enterprise Ltd has acquired 60% of the stake in M/s. Padmavati Chemicals, a partnership firm, by executing the Partnership Deed on 3rd December, 2024. The target entity, Padmavati Chemicals, has a turnover of Rs. 12.70 Crores as on 31st March, 2024. The acquisition is carried out at arm's length and does not fall under related party transactions. The objective of the acquisition is to expand the business presence with the existing business entity having wide experience of manufacturing in the pharma industry. The acquisition is completed on 3rd December, 2024, with a cash consideration as a Partner's Capital in the Partnership Firm.