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.
