Gulshan Polyols (GPL) has received approval from board of directors for acquiring/investment to the extent of 40% Equity Share Capital of JGN Sugar and Biofuels. JGN Sugar is engaged and incorporated for carrying the business of establishing, acquiring/leasing, carrying on, operating, and maintaining a factory or factories for the manufacturing and refinery of sugar, biofuels, molasses, bi products, portable alcohol and allied products. Currently, both companies are not dealing in same products. However, GPL finds good business opportunity in investing in JGN Sugar and moving towards expanding its product portfolio. The acquisition/purchase of shares is expected to be completed over a period of next 3 months.
Gulshan Polyols is engaged in manufacturing of ‘Sorbitol-70%’. Sorbitol, a starch derivative, sweet in taste, finds wide range application, the major uses in dentrifice, cosmetic, Pharma, Vitamin-C, food products etc.
