Excel Industries has received an approval for sale/transfer of the Environment & Biotech Division (ENBT) of the company to its wholly owned subsidiary company ‘Excel Bio Resources (EBRL)’ as a going concern on as is where is basis by way of slump sale and the company will make necessary equity investment not exceeding Rs 10 crore in EBRL. The board of directors at its meeting held on March 29, 2017 has approved for the same.
Excel Industries is engaged in manufacturing of Agrochemical intermediates, phosphates, speciality chemicals, biocides and pharma products.