Rudra Ecovation has acquired additional 13.37% paid up equity share capital of Shiva Texfabs by purchasing 4701755 equity shares of Rs 10 each, at a premium of Rs 203.75 per share.
Earlier, the company had acquired 7.68% its paid up equity share capital of Shiva Texfabs by purchasing 23,39,181 equity shares of Rs 10 each, at a premium of Rs 203.75 per share.
With this, Rudra Ecovation has acquired 7040936 Equity shares representing 20.02% in Shiva Texfabs.The acquisition is a step towards for expanding the existing business operations and market footprint with better synergy and to support the ongoing expansion of Shiva Texfabs pending the proposed merger between Rudra Ecovation and Shiva Texfabs.
Rudra Ecovation is engaged in the manufacture and sale of cotton and blended yarns in India and internationally.
