Vishal Fabrics Ltd acquires stake in Chiripal Textile Mills Pvt Ltd

Vishal Fabrics Ltd has acquired 1170500 Equity Shares of M/s. Chiripal Textile Mills Pvt Ltd at price of Rs. 135 as per valuation report, amounting of Rs. 15,80,17,500 on dated 30th March, 2024 from various shareholders of M/s. Chiripal Textile Mills Pvt Ltd.

Pursuant to this transfer, Vishal Fabrics Limited ("the Company") post transfer holds 37.72% Equity Share Capital of M/s. Chiripal Textile Mills Pvt Ltd and accordingly M/s. Chiripal Textile Mills Pvt Ltd became the "Associate Company" of Vishal Fabrics Limited ("the Company") w.e.f. 30th March, 2024.

CTMPL incorporated under the provision of the Companies Act, 1956 and engaged in business of manufacturing, weaving, bleaching, dying, processing, mercerising printing, sizing, importing, exporting purchasing, selling and/or otherwise dealing in yarn of all types of cotton and other fabrics.

Shares of Vishal Fabrics Limited was last trading in BSE at Rs. 18.41 as compared to the previous close of Rs. 19.05. The total number of shares traded during the day was 343867 in over 809 trades.

The stock hit an intraday high of Rs. 19.80 and intraday low of 18.30. The net turnover during the day was Rs. 6482495.00.

Source : Equity Bulls

Keywords

VishalFabrics INE755Q01025 Textiles StakeAcquisition ChiripalTextiles