MoneyWorks4Me

Jindal Worldwide acquires additional 39.56% stake in subsidiary company

20 Feb 2019 Evaluate

Jindal Worldwide has acquired additional 39.56% stake in its subsidiary company -- Balaji Weft. The company has acquired 55,11,392 equity shares of Rs 10 each at par aggregating to Rs 5.55 crore.

After the acquisition, the company’s stake has increased from 60.44% to aggregating of 100% equity share, making it Wholly Owned Subsidiary of the company.

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.

Peers
Company Name CMP
Vardhman Textiles 535.60
Welspun Living 229.45
Arvind 529.00
Raymond Lifestyle 574.15
K.P.R. Mill 1123.35
View more..