Jiya Eco-Products has proposed to acquire total 574000 shares comprising of 33.79% of Jiya Eco India at face value. After such acquisition, Jiya Eco India will become wholly owned subsidiary of the company.
With this, both the companies will get benefit of each other. This strategic tie-up is to get direct benefit of good network and retail customer base of Jiya Eco India and the management of Jiya Eco India is expecting to increase its customer base to 1000 customers in coming 2-3 years. This decision will ultimately reflect the turnover of Jiya Eco-Products and is also expecting to grow in a better way.
Jiya Eco-Products is engaged in the manufacturing of bio-fuels viz. bio-briquettes and bio-pellets which is an alternative source of energy and has the ability to replace/are fairly good substitutes of traditional fossil fuels like coal, firewood, lignite, etc.
