JMDE Packaging & Realties has received an approval to invest in a Delhi-based advertising company Salt Studios to the extent of Rs 11.16 crore. The board of company at its meeting held on February 28, 2013 has approved for the same.
The company will be buying out majority shares i.e. 60% of the total shareholding of Salt Studios from existing shares holders of company. Pursuant to this, Salt Studios will be treated as a subsidiary company.
JMDE Packaging & Realties is engaged in gravure printing of plastic sheeting and real estate and construction businesses in India. Its manufacturing unit is located in Budasan, Gujarat.
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