Acquisitions22 May 2026, 04:29 pm
Manomay Tex India: Audited Results for FY23 & LOV Smart RJ-1 Acquisition
AI Summary
Manomay Tex India Ltd. announced its audited financial results for the quarter and year ended March 31, 2023, following a board meeting on May 22, 2026. The company also approved a share purchase agreement to acquire 26% equity shares of LOV SMART RJ-1 PRIVATE LIMITED, a renewable energy company. This acquisition aims to enhance captive renewable energy capacity by up to 13.65 MW (DC) for the company's Rajasthan-based plants, ensuring cost efficiency and sustainability. The acquisition is expected to be completed by November 30, 2026, with payment made through online banking.
Key Highlights
- Audited financial results for the quarter and year ended March 31, 2023, approved.
- Acquisition of 26% equity shares in LOV SMART RJ-1 PRIVATE LIMITED approved.
- Acquisition to augment captive renewable energy capacity by 13.65 MW (DC).
- Acquisition expected to be completed by November 30, 2026.
- Trading window opens May 25, 2026, for trading in company shares.
Price Impact
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