Jindal Worldwide has acquired 10,000 equity shares of face value of Rs 10 each at par aggregating to Rs 1 lakh of Shikha Weavers. The company has acquired shares of a closely held company for better expansion of business and to further strengthen the position of the company in the Weaving segment of Textile Industry.
With this acquisition, Shikha Weavers becomes a wholly owned subsidiary company of Jindal Worldwide with aggregate of 100% shareholding.
Jindal Worldwide engages in the manufacture, sale, and export of made ups and fabrics in India. 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.
