Texmo Pipes & Products has subscribed and acquired 51% of equity share capital of Shree Venkatesh Industries. 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.
Pursuant to the aforesaid transaction, the Company holds 51% of the total Equity Share Capital of the aforesaid Company, thereby becomes the Subsidiary Company of Company. The cost of 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.
Texmo Pipes & Products is engaged into manufacturing of range of PVC and HDPE pipes viz. suction and delivery hose pipe etc.
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