Praj Industries has acquired majority stake in Neela Systems (Neela) for about Rs 64 crore. This translates into a shareholding of 50.20% for Praj. With this, Neela becomes a subsidiary of Praj but, would continue to operate as an independent entity.

Neela, a Mumbai based company having business interest in Water treatment and modular process systems is focused on Biotech, Pharma and personal care industries. It is having a turnover of about Rs 90 crore including exports. It is a leader in high purity water segment.

Praj Industries is a Process Engineering and Technology Company offering innovative end-to-end solutions for biofuels, brewery, industrial processes and water and wastewater treatment systems.

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112.80 0.00 (0.00%) Nov 18, 18:01
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