EFC (I) Ltd Acquires 100% Stake in Ultrafresh Modular Solutions
EFC (I) Ltd announced the approval of its Board of Directors to acquire 100% of Ultrafresh Modular Solutions Limited. The acquisition, made from existing shareholders, aims to strengthen EFC's furniture manufacturing and Design & Built solutions business. Ultrafresh, a 51% subsidiary of TTK Prestige Limited, operates in the modular home solutions segment, offering kitchens, wardrobes, and customized furniture, with a manufacturing plant in Nalagarh, Himachal Pradesh. The deal is expected to create operational synergies, broaden product offerings, and enhance market access. The acquisition does not involve related parties and is conducted at arm's length. Completion is anticipated within 15 days via preferential issue of equity shares, subject to shareholder and stock exchange approvals.
Key Highlights
- EFC (I) Ltd to acquire 100% of Ultrafresh Modular Solutions Limited.
- Acquisition aims to bolster EFC's furniture and design solutions business.
- Ultrafresh is a key player in India's modular home solutions market.
- Deal expected to yield operational synergies and market expansion.
- Completion targeted within 15 days via equity share issuance.
Price Impact
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