Suditi Industries has successfully completed the acquisition of 50% equity shareholding in SAA & Suditi Retail (the Investee Company). Consequent to this acquisition, SAA & Suditi Retail has become a wholly-owned subsidiary of Suditi Industries.
The objective of acquisition is to consolidate the Company’s existing investment in the target entity. Prior to the acquisition, the Company was holding 50% equity stake in the said entity. Pursuant to this acquisition, the target entity will become a wholly owned subsidiary of the Company. This acquisition is intended to provide greater operational control, improved managerial and administrative efficiencies.
Suditi Industries is engaged in manufacturing 100% cotton knitted fabric and polar fleece fabric. The company produces processed and finished fabric.
