Suraj Industries (SIL) has received an approval for investment of Rs 6.58 crore in Carya Chemicals & Fertilizers (Carya), an existing Subsidiary of the Company, towards the acquisition of 65,81,000 equity shares in the right issue of CARYA.
Post the above acquisition, the company’s holding in Carya shall be 50.73% of the then expanded paid up capital of Carya. Accordingly, Carya will continue to remain subsidiary company. The main line of business of SIL is manufacturers of alcoholic liquors and investment in Carya is in line with the main business of the company
Suraj Industries is an edible oil manufacturing company.
