Commercial Syn Bags’ wholly owned subsidiary -- Comsyn India has entered into a Share Purchase Agreement (SPA) with Erawat Pharma to acquire 9,50,000 equity shares of its wholly owned subsidiary -- Erawat Vegcap in one or more than one tranche. The total cost of acquisition is Rs 4.99 crore, of which an initial payment of Rs 1.25 crore, representing 25% of the total consideration will be paid upfront, while the remaining balance amount shall be paid on or before May 15, 2025, through normal banking channels.
The acquisition of Erawat Vegcap by the wholly owned subsidiary company is a strategic move aligned with the company’s broader objectives of business expansion, diversification, and value creation. Upon completion of this acquisition, Erawat Vegcap shall become a wholly owned subsidiary of Comsyn India and the ultimate holding company will be Commercial Syn Bags.
Commercial Syn Bags is engaged in the manufacturing and supply of High-Density Polyethylene (HDPE) / Polypropylene (PP) woven sacks, Flexible Intermediate Bulk Container (MC), fabrics & Tarpaulin for domestic as well as export markets.
| Company Name | CMP |
|---|---|
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| Astral | 1578.80 |
| Finolex Inds | 172.80 |
| Nilkamal | 1312.10 |
| Jain Irrigation Sys | 34.21 |
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