Acquisitions6 Feb 2025, 03:41 am
Oswal Greentech Acquires 4.97% Stake in Oswal Agro Mills for Rs. 46.17 Crores
AI Summary
Oswal Greentech Ltd. has acquired 4.97% (66,82,109 equity shares) of Oswal Agro Mills Limited (OAML) in a cash transaction worth Rs. 46.17 crores. The acquisition is at arms-length and does not fall within related party transactions. Oswal Greentech is the promoter of OAML and the acquisition aims to reinforce their commitment, enhance market confidence, and strengthen their influence. The acquisition is expected to improve investor perception and provide greater strategic flexibility and control. OAML was incorporated in 1979 and is primarily engaged in trading goods and real estate development. The company's turnover for the last 3 years is 186.73 Lakh, 2,794.70 Lakh, and 1,102.13 Lakh respectively.
Key Highlights
- Oswal Greentech acquires 4.97% stake in Oswal Agro Mills for Rs. 46.17 crores
- The acquisition is at arms-length and does not fall within related party transactions
- The acquisition aims to reinforce commitment, enhance market confidence, and strengthen promoters’ influence
- Oswal Agro Mills was incorporated in 1979 and is primarily engaged in trading goods and real estate development
- Oswal Greentech is the promoter of Oswal Agro Mills and the acquisition is expected to improve investor perception and provide greater strategic flexibility and control