Sat Industries has further acquired 2,150 equity shares in Fibcorp Polyweave on right basis at Rs 1,655 (including premium of Rs 1,555) per share. Consequent to this acquisition, the company's holding in Fibcorp Polyweave will increase from 19.22% to 19.89%. The prime object of acquisition is to broad base the existing activities with new line of activities which are of high value and have bright futures in terms of revenue and growth. The target company is engaged in the business of manufacturing of flexible intermediate bulk containers.
Sat Industries has presence in a wide range of activities such as manufacturing, global outsourcing of products & services, real estate, mining and marketing activities in the field of coals.
