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NIBE to acquire 5% stake in Anshuni Commercials

02 Nov 2023 Evaluate

NIBE has signed definitive agreement on November 01, 2023, to acquire 5% stake in Anshuni Commercials (Anshuni). 5% stake is to be acquired immediately post execution of share purchase agreement at a total cash consideration of Rs 10,20,000. 

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.

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