Prime Industries has received an approval for the acquisition of 98,59,000 shares of Rs 10 each, representing 48.69% of total paid up capital of Kay Bouvet Engineering. The proposed acquisition is strategic step for expansion & diversification in new technologies and to balance towards Working Capital. Cost of acquisition is equivalent to Rs 9.85 crore. The said acquisition is expected to be executed by September 30, 2024. The Board of Directors of the Company at its meeting held on June 23, 2023, considered and approved the same.
Prime Industries is a manufacturer of tissue and paper based products including napkins, paper towels, and wet wipes.
