Shree Ganesh Remedies Ltd to acquire Controlling Interest in Dhari Chemicals Limited

The Board of Directors of Shree Ganesh Remedies Ltd in their meeting held on 7th September, 2021 have decided to enter into the Share Purchase Agreement to acquire the 74% stake of Dhari Chemicals Limited ("DCL").

DCL was incorporated to carry on the business of manufacturing of speciality chemicals, chemical compounds, (organic and in-organics) in all forms (solid, liquid and gaseous) and of all kinds of solvents, alkalies, intermediates, chemical auxilliaries, disinfactents, biochemicals and its related preparations, articles and products. DCL holds leasehold rights admeasuring an area about 40554.30 sq.mt. situated at D-2 / 17 / 16 in Dahej-II industrial Corporation, Bharuch, Gujarat for which the down payment is already paid and balance instalments will be paid as per the terms of the lease deed.

Further, the Company will also take steps to complete the acquisition of remaining 26% equity stake from existing shareholders.

Shares of Shree Ganesh Remedies Limited was last trading in BSE at Rs. 359.9 as compared to the previous close of Rs. 364.5. The total number of shares traded during the day was 4005 in over 169 trades.

The stock hit an intraday high of Rs. 370 and intraday low of 350.5. The net turnover during the day was Rs. 1434416.

Source : Equity Bulls

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