Zuari Industries has increased its stake in Style Spa Furniture, India's largest retail furniture chain by acquiring 13,33,350 equity shares of Rs 10 each on September 27, 2011, constituting 6.89%. Pursuant to this, the company’s direct and indirect holding through its subsidiary is 52.86% of the capital of Style Spa Furniture.
Zuari Industries, part of the K K Birla Group, was incorporated as Zuari Agro Chemicals to manufacture urea and complex fertilizers. The company forayed into various business areas such as cement, furniture, hybrid seeds, engineering consultancy, financial services, and oil tanking through a route of subsidiaries and joint ventures.
