Rajoo Engineers Ltd signs NBIO for Strategic Acquisition in the Machinery Segment

Rajoo Engineers Limited ("the Company") is pleased to announce that it has signed a Non - Binding Indicative Offer (NBIO) for the proposed acquisition of a company engaged in the manufacturing of machines catering to the various industries.

The target company, with a legacy spanning over three decades, enjoys a strong brand reputation and has established a notable presence in both domestic and international markets.

This proposed acquisition is a strategic move by Rajoo Engineers Limited as part of its vision for inorganic growth through forward integration. The synergy arising from this potential acquisition is expected to strengthen the Company's position by offering end-to-end solutions to customers across the value chain.

The combined capabilities of both companies will not only enhance product offerings but also significantly expand the footprint in India and global markets.

The Company will keep all stakeholders informed as and when further developments take place in accordance with the applicable laws and regulations.

Shares of RAJOO ENGINEERS LTD. was last trading in BSE at Rs. 115.00 as compared to the previous close of Rs. 121.05. The total number of shares traded during the day was 57457 in over 432 trades.

The stock hit an intraday high of Rs. 115.00 and intraday low of 115.00. The net turnover during the day was Rs. 6607555.00.

Source : Equity Bulls

Keywords

RAJOOENGINEERS INE535F01024 NBIO StrategicAcquisition MachinerySegment