Asahi India Glass has planned to purchase 10,49,895 equity shares of M/s AIS Adhesives (AIA) from M/s Map Auto. The objective of the acquisition is to get access to downstream consumer retail market segment, which is poised for huge growth. The Company has a very good brand connect with consumers and has proven quality and service in glass adhesives for last 3 decades.
Acquisition of a retail consumer facing business line of AIS Adhesives will give a head-start to the Company in the consumer glass segment. There is no effect of acquisition on the structure of the Company as AIS already hold 47.83% of equity of AIS Adhesives and support its management.
The company has also planned to purchase 1,00,010 equity shares of M/s AIS Distribution Services (ADSL) from M/s Map Auto. There is no effect of acquisition on the structure of the Company as AIS holds 49.99% of equity of AIS Distribution Services and support its management.
Asahi India Glass (AIS) is India’s leading integrated glass and windows solutions company.
