Balmer Lawrie & Company has received an approval for the acquisition of 10% equity share of Rchobbytech Solutions out of which 2% would be transferred to Indian Institute of Management - Calcutta Innovation Park for providing incubation support to the start-up and acquisition of 8.5% equity share of Kanpur Flowercycling out of which 2% would be transferred to Indian Institute of Management - Calcutta Innovation Park for providing incubation support to the start-up. The acquisition of shares is through infusion of capital in cash.
The meeting of the Board of Directors of the company held on May 29, 2018, approved the same.
Balmer Lawrie & Company is engaged in providing greases and lubricating oils, industrial packaging (steel drums), logistics infrastructure and services, and tours and travel.
