Jyothy Labs Ltd to acquire the brand 'Quiclo®'

Jyothy Labs Limited has signed Business Purchase Agreement with Smartwash Solutions Private Limited for acquiring its brand "Quiclo®" along with its software and customer database under its Laundry Service business for a purchase consideration of Rs. 70,00,000/- plus applicable taxes.

The brand being acquired is in line with the laundry service business of the Company. The proposed transaction will help the Company in strengthening its laundry service business and customer base in Hyderabad.

Further, the Company's laundry service and dry-cleaning unit located at Hyderabad has commenced its commercial operations.

Shares of Jyothy Labs Limited was last trading in BSE at Rs. 543.60 as compared to the previous close of Rs. 540.65. The total number of shares traded during the day was 13141 in over 1188 trades.

The stock hit an intraday high of Rs. 548.15 and intraday low of 533.90. The net turnover during the day was Rs. 7108842.00.

Source : Equity Bulls

Keywords

JyothyLabs INE668F01031 BrandAcquisition Quiclo LaundryServiceBusiness Hyderabad