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Suumaya Industries acquires 51% stake in agri-tech startup payAgri Innovations

25 Aug 2021 Evaluate

Suumaya Industries has acquired 51 per cent stake in agri-tech startup payAgri Innovations to expand its farm business. The company did not disclose the deal value. Suumaya Industries, which is into textile business, has recently ventured into agri-commodity business through its 100 per cent subsidiary Suumaya Agro. The acquisition would enable Suumaya Agro to gain a strong foothold in the agri value chain business in India.

Suumaya Industries is engaged in the manufacturing of designer wear of women like Kurtis, ethnic tops, salwar suits etc.

Peers
Company Name CMP
Welspun Living 125.45
Vardhman Textiles 557.75
Arvind 387.20
K.P.R. Mill 926.40
Page Industries 37935.70
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