Vishal Fabrics buys stake in Chiripal Textile Mills

Vishal Fabrics now holds 37.72% Equity Share Capital of Chiripal Textile Mills.

Vishal Fabrics announced that it had acquired equity shares of Chiripal Textile Mills on March 30, 2024, from various shareholders of Chiripal Textile Mills at a price of Rs 135 per share, totalling Rs 158,017,500, according to the valuation report.

Following this acquisition, Vishal Fabrics now holds 37.72% Equity Share Capital of Chiripal Textile Mills, thereby making Chiripal Textile Mills an Associate Company of Vishal Fabrics (the Company) effective from March 30, 2024.

Chiripal Textile Mills is incorporated under the provisions of the Companies Act, 1956, and is engaged in the business of manufacturing, weaving, bleaching, dyeing, processing, mercerising, printing, sizing, importing, exporting, purchasing, selling, and/or otherwise dealing in yarn of all types of cotton and other fabrics.