ABans Enterprises has received approval to acquire Abans Jewels, an entity owned by the company’s Promoter and Managing Director -- Abhishek Bansal and Non - Executive Director -- Shriyam Bansal. The aforesaid investment has potential synergies with trading activities of the Company and it expect growth in the business of target entity and value creation from this investment.
The cost of acquisition is Rs 16.20 per equity share aggregating to total consideration of Rs 5.67 crore for acquiring target entity. The Board of Directors of the Company at its meeting held on March 20, 2019 has approved the same.
ABans Enterprises, formerly known as Matru-Smriti Traders, engaged in the business of trading, processing, broking and consulting in all kind of commodities, agricultural products, base metals, precious metals and stones and trading in commodities, shares and derivatives of all kind in electronic exchanges.
| Company Name | CMP |
|---|---|
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| Adani Enterprises | 2218.35 |
| Amrapali Industries | 17.53 |
| Rashi Peripheral | 455.25 |
| PDS | 301.45 |
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