Small-cap textile stock jumps more than 13% after THIS acquisition update. Details here
On Monday, 28 April 2025, Vishal Fabrics announced a business update pertaining to an acquisition. The Vishal Fabrics said that it has acquired 528,100 Equity Shares of Nandan Industries Pvt Ltd. The equity shares of Nandan Industries have been acquired by Vishal Fabrics at price of Rs. 123 as per valuation report, amounting of Rs. 6,49,56,300 on dated 28th April, 2025 from shareholder of Nandan Industries Pvt Ltd.
Currently Vishal Fabrics Limited holds 23.17% Equity Share Capital of Nandan Industries Pvt Ltd and Nandan Industries Pvt Ltd is already an 'Associate Company' of Vishal Fabrics Limited with effect from 29th March, 2024.
Pursuant to the announced transfer as per the company, Vishal Fabrics Ltd post transfer holds 35.41% of Equity Share Capital of Nandan Industries Pvt Ltd.
The intent of transfer and acquisition acquire of shares as per Vishal Fabrics is to focus on further development and enhancement of business.
Nandan Industries Private Limited is engaged in business of manufacturing, weaving, bleaching, dying, processing, mercerizing, printing, sizing, importing, exporting, purchasing, selling and/or otherwise dealing in yarn of all types of cotton and other fabrics.
The Authorized Share Capital of Nandan Industries Private Ltd stands at Rs. 6,81,50,000 divided into 50,40,000 Equity Shares of Rs. 10/- each and 17,75,000 Preference Shares of Rs. 10/-each."
Paid-up Share Capital -Rs. 6,09,00,000/-comprises of 43,15,000 Equity Shares of Rs. 10/- each and 17,75,000 preference shares of Rs. 10/- each.
Turnover of Nandan Industries Private Limited stood at Rs. 226.04 Crore for the financial year ended on March 31, 2024
Vishal Fabrics share price that opened at Rs. 25.86 gained to intraday highs of ₹ 29.25, which meant gains of more than 13% compared to previous days closing price of ₹ 25.85. The Vishal Fabrics share price ended the day at ₹ ₹ 28.72, more than 11% higher than the previous days close
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