Resonance Specialties Buys Mfg Unit for ₹29.98 Cr

Resonance Specialties Ltd has announced the Board's approval to acquire a manufacturing facility from Kaygee Laboratories Pvt Ltd for ₹29.98 crores on a slump sale basis. The facility, located in Mandideep, Madhya Pradesh, includes land, buildings, plant & machinery, and employees. This acquisition is considered a related party transaction and has been conducted at an arm's length basis, supported by an independent valuation. The rationale includes securing uninterrupted production, enhancing operational control, and eliminating outsourcing costs for chemical intermediates and APIs. The transaction is subject to shareholder approval.