Manaksia Industries is planning to acquire 100% stake in Jiwanjyoti Vanijya and Glitter Agencies. The company’s board of directors at its meeting held on January 7, 2017 has approved to acquire entire share capital of Jiwanjyoti Vanijya and Glitter Agencies and make them as wholly owned subsidiaries.
Jiwanjyoti Vanijya and Glitter Agencies were incorporated for dealing in packaging and allied products in 2009. The net worth of both the companies was around Rs 4.88 crore as on March 31, 2016.
Manaksia is a multi-division and multi-location conglomerate. The group specializes in the manufacture of packaging products (crowns, closures and metal containers), metal products and fast moving consumer goods, among others.