National Organic acquires Sushripada Plastics Pvt Ltd

National Organic Chemical Industries Ltd has announced that the Company has acquired the entire shareholding of Sushripada Plastics Pvt Ltd from Shri. HAP Chemical Enterprises Pvt Ltd. Sushripada Plastics Pvt Ltd had recently acquired the processing Unit No. III located in GIDC, Vapi, Gujarat from Shri. HAP Chemical Enterprises Pvt Ltd. The total cost of acquisition of Sushripada Plastics Pvt Ltd to the Company is Rs 19,50,00,000/- (including the price paid towards the purchase of shares of Sushripada Plastics Pvt Ltd).

Further the Company has informed that, with this acquisition of the entire shareholding of the said Sushripada Plastics Pvt Ltd as stated above, it has now become a wholly owned subsidiary of the Company.

Source : Equity Bulls

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