R&B Denims is all set to acquire 67% equity shares of M/s Ricon Textile. Pursuant to the acquisition, M/s. Ricon Textile will become subsidiary company of the company. The acquisition aligns with the company's long-term strategy of expanding its product portfolio in the textile industry and strengthening its market presence. It will enable the company to expand its presence in the high-margin premium textile segment. The target company has an established distribution network, which will enhance the company's market reach. The acquisition is expected to be EPS accretive from the second year of operations.
The company shall invest the amount in one or more tranches by April, 2025.
R&B Denims is engaged in the business of manufacturing and sale of quality Denim Textile products.
