Kiri Industries to acquire 81% in Indo Asia Copper Ltd

Kiri Industries Limited ("Company") is acquiring 81% Equity stake of Indo Asia Copper Limited. Accordingly, Indo Asia Copper Limited become a wholly owned subsidiary of the Company.

The Prospective intent is for manufacturing of Copper & allied products as well as Fertilizers.

After acquisition of 8100 equity Shares of Rs. 10/- each, equity stake of the Company in IACL will be 100% and IACL become wholly owned subsidiary.

Shares of Kiri Industries Limited was last trading in BSE at Rs. 457.65 as compared to the previous close of Rs. 451.15. The total number of shares traded during the day was 19638 in over 1035 trades.

The stock hit an intraday high of Rs. 464.40 and intraday low of 450.65. The net turnover during the day was Rs. 9002107.00.

Source : Equity Bulls

Keywords

KiriIndustries INE415I01015 StakeIncrease Subsidiary