Osiajee Texfab Ltd. Acquires 250 Acres of Land, Aims to Acquire 750 Acres in 5 Years

Osiajee Texfab Ltd., in accordance with Regulation 30 of the SEBI LODR, has announced the acquisition of approximately 250 acres of land by its subsidiary, Osiajee Agro Limited. Out of this, 150 acres are owned and 100 acres are on lease. This acquisition is part of the company's long-term consolidated business expansion plan, aimed at diversifying and strengthening its agro and allied business operations. The company has also entered into a financial tie-up with Federal Bank, Hoshiarpur, for meeting funding requirements related to the project. The Osiajee Group plans to acquire approximately 750 acres of land over the next five years. The company has already invested 22.5 crore, out of which 21 crore has been invested. The company has achieved profitability and expects to maintain and improve it on a quarter-to-quarter basis. The above developments are expected to significantly contribute to the overall growth and profitability of the Osiajee Group on a consolidated as well as standalone basis.