Himadri Speciality Chemical has received approval from board of directors to acquire 100% Equity Shares of Himadri Clean Energy by way of purchase of Equity Shares from the existing shareholders of the Target Company.
Further the Board has approved the share purchase agreement (SPA) with existing shareholders of the Target Company to acquire 100% of the equity share capital of the Target Company. The said acquisition is subject to the fulfilment of various terms and conditions as specified in the SPA.
On completion of the said purchase, Himadri Clean Energy will become Wholly Owned Subsidiary (WOS) of Himadri Speciality Chemical. The management has proposed to acquire Himadri Clean Energy to make it WOS and to expand business through WOS.
Himadri Speciality Chemical is primarily engaged in the manufacturing of carbon materials and chemicals. The company has operations in India and caters to both domestic and international markets.
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