Texmo Pipes & Products has received approval to acquire at least 51% stake in Shree Venkatesh Industries. With this, Shree Venkatesh Industries will become the subsidiary of company. The Company promotes the said Company resulting in working of operations of the said Company’s business i.e. Manufacturing and trading of Plastic Products, Pipes, Tanks and Fittings and other allied services and products.
The cost of proposed acquisition i.e. 10,409 equity shares of Shree Venkatesh Industries is Rs 20.60 crore at the rate of Rs 19,800 each including premium, payable in tranches and on calls.
Texmo Pipes & Products is engaged into manufacturing of range of PVC and HDPE pipes viz. suction and delivery hose pipe etc.