NIBE has signed definitive agreement on August 29, 2023, to acquire the 51% stake in Karmayogi Manufacturing (Karmayogi). Pursuant to aforesaid agreement, the Company has acquired 51% stake in Karmayogi on August 29, 2023, resulting in Karmayogi becoming its subsidiary company in terms of section 2(87) of the Companies Act, 2013.
NIBE (Formerly known as Kavita fabrics) manufactures synthetic fabrics in the form of semi-finished sarees and dress materials. These products are offered in various designs as per customer requirements.
