Indrayani Biotech has acquired 40,800 equity shares constituting 51% of total no of equity shares of Matrix Boilers (MBPL), thus MBPL has become a subsidiary company of Indrayani Biotech. The cost of acquisition is Rs 28.07 lakh.
Indrayani Biotech is a company belonging to food sector. They are a part-finance its project to produce cut flowers, strawberries, tissue culture plantlets and hybrid vegetable seeds. The company also markets and distributes hybrid vegetable seeds manufactured by Hoechst India. It plans to produce these seeds for Hoechst in due course of time.
