Mallcom India’s (MIL) board has approved acquisition of 100% stake in Best Safety (BSPL) Consequent to the acquisition, Best Safety becomes a wholly owned subsidiary of the company. Total investment is Rs 5.33 crore (23,20,350 equity shares at Rs 23 per share). The acquisition price is as per valuation report obtained by the company from competent professional.
BSPL is engaged in manufacturing and export of safety shoes from its SEZ unit located within Falta Special Economic Zone (FSEZ). Since beginning, the entire production of BSPL is being sold through Mallcom (India) (MIL) under third party export provisions. MIL is also operating from FSEZ having its existing unit as well as 100% subsidiary ‘Mallcom VSFT Gloves’ and is engaged in manufacturing and export of PPE range of products. Since all the units are engaged in similar line of business and MIL being the sole exporting entity, it is quite natural and logical to integrate the SEZ operations for better synergy and control of operations. The proposed acquisition and prospective merger of BSPL with MIL will lead to reduction of cost and better profitability and is likely to be a good value addition to the export business.
Mallcom (India) is the parent Company of the Mallcom Group. The company is engaged in the manufacture, export and distribution of a wide range of Personal Protective Equipment (PPE) since 1983.
Company Name | CMP |
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Delta Corp | 113.50 |
Awfis Space Solution | 419.55 |
Mallcom | 1040.00 |
Inducto Steel | 61.00 |
Indiabulls Enterpris | 11.95 |
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