Orient Abrasives Limited Executive Committee of Board of Directors on Friday approved the acquisition of 10,000 equity shares of Rs10 each of Orient Advanced Materials Private Limited (formerly known as KMM Consultancy Private Limited) (OAMPL) from the existing shareholders of OAMPL, thereby making it a wholly-owned subsidiary of the company.
ln order to expand its business the company is in process of developing a separate product line, hence acquired OAMPL which is a mineral based company.
Orient Abrasives Ltd ended at Rs27.35 per piece up by Rs1.5 or 5.8% from its previous closing of Rs25.85 on the BSE.
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