Business Update14 May 2024, 09:12 pm
Rudra Ecovation's Board Approves INR 125 Crore Strategic Investment in Shiva Texfabs
AI Summary
Rudra Ecovation Limited's board of directors held a meeting on May 14, 2024, and approved a strategic investment of up to INR 125 crores in Shiva Texfabs Limited. The investment aims to acquire a stake of not less than 20% in Shiva Texfabs, which is currently undergoing expansion. The directors have authorized one of their members to execute the necessary steps for this transaction.
Key Highlights
- Rudra Ecovation's board approves INR 125 crore investment in Shiva Texfabs
- Investment intended for acquisition of over 20% stake in Shiva Texfabs
- Transaction aimed at funding Shiva Texfabs' ongoing expansion
- Directors authorize one member to execute necessary steps