Banswara Syntex has purchased 3,720,000 equity shares of Carreman Fabrics India (currently known as Banswara Global) from Carreman France. The transfer was approved in the meeting of board of directors of Banswara Global held on October 19, 2013.
Banswara Global formerly known as Carreman Fabrics India was incorporated on September 16, 2005. This company had a joint venture holding of 50:50 equity shares shared between Banswara Syntex and Carreman Fabrics India.
However, after considering the aforesaid purchase, the present share holding of the company in Banswara Global has increased to 80%. Consequently, Banswara Global is now a subsidiary company of Banswara Syntex.
