Nidhi Granites Limited Acquires 50.5% Stake in Jowela Exim Private Limited
1 report, 1 independent
Updated Wed 00:00
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What happened
The Board of Directors of Nidhi Granites Limited approved the purchase of 16,00,000 equity shares in Jowela Exim Private Limited. This purchase involves a cash consideration of ₹1,60,00,000. Upon completion, Nidhi Granites Limited's total shareholding will be 50.50 percent, making Jowela Exim Private Limited a subsidiary.
From equitybulls.com
Why it matters
The acquisition secures a controlling interest in Jowela Exim Private Limited, which operates as a manufacturer and dealer of precious metal diamond-studded jewelry and precious metals. This move is intended to support the business strategy and growth of Nidhi Granites Limited.
From equitybulls.com
Who's involved
- board of directorsThe group that approved the proposal to acquire the stake in Jowela Exim Private Limited
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The entities involved
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board of directors
group of people who jointly supervise the activities of an organization