Jindal Worldwide has acquired 84.19 lakh Equity Shares of Rs 10 each at par aggregating to Rs 8.42 crore of Balaji Weft.
Consequent to the said investment and further to the receipt of allotment letter of said shares on September 7, 2017, the company becomes the shareholder of Balaji Weft with aggregate of 60.44% Equity Share capital, and as a result Balaji Weft becomes the Subsidiary Company and a Related Party of Jindal Worldwide.
The main objective of the company is establishing itself as a market leader in the field of home textiles and readymade garment exports by rendering efficient and effective services.
