Padmanabh Industries has received an approval to acquire 15,74,100 equity shares of Guardian Finance which constitute 69.96% of the present paid up capital of Guardian Finance subject to necessary approvals. The board of directors at its meeting held on January 9, 2018 has approved for the same.
The company has started necessary procedure for change in management and share holding pattern with the Reserve Bank of India (RBI) to complete the said transaction.
Padmanabh Industries is engaged in the trading of chemicals and related products. The company was formerly known as Nilchem Industries.
