Standard Industries has agreed to sell its entire equity shareholding in Stan Plaza to Stanrose Mafatlal Investments and Finance, on arm’s length basis. The completion of sale of equity shares of Stan Plaza is subject to the terms and conditions specified in the Share Purchase Agreement.
This step has been taken pursuant to a Share Purchase Agreement executed on March 13, 2015 between the company, Stan Plaza (one of its wholly owned and non-material subsidiary companies) and Stanrose Mafatlal Investments and Finance (promoter of the company).
Standard Industries is into the business of textiles apparels and chemicals. The textile and apparel division is engaged in manufacturing cotton, polyester, yarn and other fabrics and mens and womens readymade garment clothing.
