Pennar Industries has made additional investment of Rs 49.50 crore in Pennar Renewables (PRPL) for acquiring 49,80,392 equity shares. Earlier, on October 14, 2015, the company invested initially Rs 2.9 lakh and acquired 29,411 equity shares of PRPL. Pursuant to the said investment PRPL becomes the subsidiary company.
Pennar is a multi-location, multi-product company manufacturing cold rolled steel strips & tubes, cold rolled formed sections, electrostatic precipitators, pre-engineered building systems, sheet metal components, and road safety systems.
