Vadilal Industries arm to acquire Krishna Krupa Corporation, USA

VADILAL INDUSTRIES USA INC., (VIU) a wholly-owned subsidiary of VADILAL INDUSTRIES Ltd has signed a Stock Purchase Agreement with Krishna Krupa Corporation, USA (KKC) for subscription of shares with voting preferred stock in the capital stock of KKC, which would result in VIU holding up to 100% voting rights in KKC.

KKC operates an ice creams parlour in the state of Illinois, USA. Acquisition of KKC provides VADILAL USA with ready platform to understand the parlour business operations in USA. Key learnings from KKC operations will help in preparation of a successful business plan for a nationwide parlour business.

Shares of Vadilal Industries Limited was last trading in BSE at Rs. 1848.75 as compared to the previous close of Rs. 1875.05. The total number of shares traded during the day was 2433 in over 486 trades.

The stock hit an intraday high of Rs. 1892.70 and intraday low of 1825.15. The net turnover during the day was Rs. 4490233.00.

Source : Equity Bulls

Keywords

VadilalIndustries INE694D01016 StakeAcquisition KKC KrishnaKrupaCorporation IceCreamParlour Illinois