Vishal Fabrics Acquires 37.72% Stake in Chiripal Textile Mills for Rs. 15.8B

Vishal Fabrics Ltd announced the acquisition of 11,70,500 equity shares of M/s. Chiripal Textile Mills Pvt Ltd, making it the holder of 37.72% equity share capital and designating the target company as an associate. The transaction, totaling Rs. 15.8B, was completed on March 30, 2024. Chiripal Textile Mills, engaged in manufacturing and dealing in various textile products, is now under the stewardship of Vishal Fabrics Ltd. The acquisition is a related party transaction as the promoter and promoter group have interests in the target entity.