The total consideration paid for the said acquisition is Rs 2,212 million.
Moneycontrol News
Shares of Meghmani Organics gained 3.6 percent intraday Monday as company acquired 24.97 percent equity stake in Meghmani Finechem.
The company’s wholly-owned subsidiary Meghmani Agrochemicals (MAPL) gave successful exit to International Finance Corporation (IFC) by acquiring 24.97 percent equity stake held by IFC in Meghmani Finechem.
The total consideration paid for the said acquisition is Rs 2,212 million.
Ankit Patel, CEO of Meghmani Organics said, "Our foray into basic chemicals has been instrumental in the strategic growth of MOL. This segment has been demonstrating robust growth with strong drivers in place."
At 10:36 hrs Meghmani Organics was quoting at Rs 101.60, up Rs 2.45, or 2.47 percent on the BSE.
Posted by Rakesh Patil