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Piccadily Agro Industries acquires 89% stake in Nirvana Biosys (P)

26 Feb 2014 Evaluate

Piccadily Agro Industries has purchased 89% shareholding of Nirvana Biosys (P), which has become a subsidiary of Piccadily Agro Industries. Nirvana Biosys (P) incorporated in the year 2008 has set up a plant of winery at Bawal, District Rewari in the State of Haryana as a joint venture with E.C. Oxenham & CY lle, Maurice-winemakers for over 75 years with a French Lineage. The Company has a distinction of setting up of a first such winery in the Northern India.

Nirvana Biosys (P) is committed to producing affordable table wines for the Indian markets that are comparable to French & Italian Levels and has also introduced other unique variants that have never before produced in this region. The range includes Red, white, Sparkling, Port, Lychee, Mango, Rose & Herbal wines. The products of Company are selling in more than 12 states of India along with various CSD canteens. This will enable the Company to expand the product range of the Company & will substantially affect the profitability of the Company.

Piccadily Agro Industries is in the business of manufacturing of sugar and its by-products. Company's manufacturing plant is located at Umri Indri Road, Village Bhadson, Tehsil Indri Karnal District, Haryana

Peers
Company Name CMP
United Spirits 1390.00
United Breweries 1248.95
Radico Khaitan 4438.00
India Glycols 264.00
Allied Blenders&Dist 651.00
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