Acquisitions21 May 2025, 01:09 pm
Shri Jagdamba Polymers Acquires 80% Stake in Global Polyweave for Rs. 3.94 Crores
AI Summary
Shri Jagdamba Polymers Ltd. has acquired an additional 39,45,000 equity shares of Global Polyweave Private Limited, a subsidiary company, pursuant to the acceptance of a Right Issue Offer Letter. This acquisition has increased the company's holding to 80% of the total issued equity share capital of Global Polyweave. Global Polyweave, a technical textile manufacturer, was incorporated on August 20, 2024, and is yet to commence its business operations.
Key Highlights
- Shri Jagdamba Polymers has acquired an additional 39,45,000 equity shares of Global Polyweave, a subsidiary company.
- The acquisition has increased the company's holding to 80% of the total issued equity share capital of Global Polyweave.
- Global Polyweave is a technical textile manufacturer incorporated on August 20, 2024.
- The acquisition was made for a consideration of Rs. 3.94 Crores.
- Global Polyweave is yet to commence its business operations.