Lakhotia Polyesters (India) Ltd. to Acquire 100% Stake in Dubai-based New Nexus FZ LLC

Lakhotia Polyesters (India) Ltd. has approved the proposed acquisition of 100% stake in New Nexus FZ LLC, a Dubai-based entity. The acquisition is a related party transaction, with promoters of the Company having a 100% stake in New Nexus FZ LLC. The acquisition will enable the Company to expand its business geography in the African Region. The proposed transaction is likely to be completed on or before March 31, 2026, and will cost the Company 1,00,000 AED. New Nexus FZ LLC was established on January 23, 2025, and is carrying on the business of General Trading. The acquisition requires the approval of the ODI (Overseas Direct Investment).