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Prince Pipes & Fittings has signed an Asset Purchase Agreement (APA) with Klaus Waren Fixtures, for the acquisition and assignment of identified assets for Rs 55 crore. The acquisition will be funded through internal accruals and is structured in two phases.
The first phase shall constitute the acquisition of the iconic Aquel brand along with the acquisition of moulds and dies, on an immediate basis. The second phase will be in relation to the acquisition of the assets comprising of land parcel, buildings, machinery and manufacturing equipment, office furniture and fixtures situated at Klaus Waren’s plant in Bhuj, Gujarat. The transaction shall be consummated subject to the receipt of regulatory approvals. The total built up area is around 1,10,000 sq ft whereas the land parcel area spans around 8 acres, which could be used for future expansion.
In a highly evolving and dynamic market, the Aquel brand has established itself as a key player in Western, Central and certain parts of South India, with its wide range of products. It has captured the attention of homeowners, interior designers, architects and builders. Aquel brings an extensive range of scientifically engineered products, encompassing faucets and bathroom accessories, available in various designs, colors, and functionalities, to cater to diverse preferences and purposes. There are currently 9 ranges and 250 SKU’s being produced under the Aquel brand.
The first tranche of the acquisition of the relevant Assets is to be completed within ten days from execution. The second tranche of the acquisition of the relevant Assets is to be completed by October 15, 2024, subject to the completion of the conditions precedent to the second tranche of the acquisition including but not limited to obtaining consents from governmental authorities.
Prince Pipes & Fittings is recognized as one of the leading polymer pipes and fittings manufacturers in India in terms of number of distributors.
| Company Name | CMP |
|---|---|
| Supreme Industries | 5268.65 |
| Astral | 2108.40 |
| Finolex Inds | 272.30 |
| EPL | 194.80 |
| Jain Irrigation Sys | 63.90 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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