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Nilkamal Bito Storage Systems Pvt Ltd is now wholly owned subsidiary of Nilkamal Ltd

Posted On: 2019-08-23 13:02:37

Nilkamal Ltd had announced about proposed acquisition of balance 50% stake in Nilkamal Bito Storage Systems Private Limited, a joint venture Company.

The Company has completed the acquisition process of acquiring entire shareholding of Bito Lagertechnik, Bittmann GmbH in Nilkamal Bito Storage Systems Private Limited.

Consequent to the said acquisition, the Company has terminated:

- The Joint Venture Agreement dated April, 18, 2006, by and amongst Nilkamal Limited (Formerly known as Nilkamal Plastics Limited) and Bito Lagertechnik Bittmann GmbH, as amended on July 11, 2016 by and amongst Nilkamal Limited, Bito Lagertechnik Bittmann Gmbh and Nilkamal Bito Storage Systems Private Limited.

- License Agreement dated May 22, 2006 by and amongst Bito Lagertechnik, Bittmann Gmbh and Nilkamal Bito Storage Systems Private Limited.

Nilkamal Bito Storage Systems Private Limited has now become the wholly owned subsidiary of the Company.

Shares of NILKAMAL LTD. was last trading in BSE at Rs.999.1 as compared to the previous close of Rs. 996.4. The total number of shares traded during the day was 483 in over 93 trades.

The stock hit an intraday high of Rs. 999.1 and intraday low of 980.8. The net turnover during the day was Rs. 478453.


Source: Equity Bulls

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