Acquisitions21 Mar 2024, 02:28 am
Texmo Pipes & Products Acquires 51% of Shree Venkatesh Industries Private Limited
AI Summary
Texmo Pipes & Products Limited has acquired a 51% stake in Shree Venkatesh Industries Private Limited. The acquisition was approved by the board of directors on 13.02.2024 and was completed on 20.03.2024. The two companies are in the plastic products, pipes, tanks, and fittings industry. Texmo Pipes & Products now holds 51% of Shree Venkatesh Industries' equity share capital and becomes its subsidiary.
Key Highlights
- Texmo Pipes & Products acquired 51% of Shree Venkatesh Industries
- The acquisition was completed on 20.03.2024
- Texmo Pipes & Products is now the subsidiary of Shree Venkatesh Industries
- Both companies are in the plastic products industry
- The cost of acquisition was INR 20,60,98,200 and was paid through bank transactions