RM Mohite Textiles Purchases equity shares of FSBW, Bangalore

RM Mohite Textiles Ltd has announced that the Company has decided to get 51% interest in M/s First Steps Baby Wear Pvt Ltd (FSBW) and make it a subsidiary Company of the Company, which is a public limited company, equity shares of which are listed on BSE. The Company would be exploring a step towards forward-integration in form of garmenting business through its subsidiary Company viz., FSBW.

FSBW would be issuing 19,50,000 nos of fully paid equity shares of Rs 10/- each to the Company at par value. Shri Dilip Mohite and Shri Shivaji Mohite, having 23% controlling interest in FSBW, are having 71.67% controlling interest in the Company.

FSBW was incorporated on February 04, 2001 as a private limited company having its registered office at Bangalore. FSBW is engaged in the activity of manufacturing of kid wears, garments and exporting the same to USA/EU nations.

Source : Equity Bulls

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