Bombay Dyeing & Manufacturing Company has sold some of the machineries of Ranjangaon unit situated at Pune in state of Maharashtra on December 23, 2016 at an aggregate value of Rs 36.25 crore. The company has taken this step pursuant to the approval of the board.
Earlier in September, the company had acquired 4.32% of equity share capital amounting 2,24,400 equity shares of Archway Investment Company (Archway) from minority shareholders. By this acquisition, Archway had become wholly owned subsidiary of the company.
Bombay Dyeing and Manufacturing Company is a holding company that is engaged in finishing of cotton and blended cotton textiles; manufacturing of bedding, quilts, pillows and sleeping bags; real estate activities, and manufacturing of polyester Staple Fiber (PSF).
