Donear Industries to buy synthetics fabric biz of RSWM, stock zooms 7%

The Company's segments include manufacturing and dealing in textiles, and rental property.

Aug 30, 2021 11:08 IST India Infoline News Service

Donear Industries Limited has informed to the exchange that it has entered into an Agreement for the purchase of Current Assets, Intangible Assets including Distribution Network, Ancillary Assets and Trade Receivables of Synthetics Fabric Business of RSWM Limited ("Seller") on August 28, 2021.

The aforesaid Agreement has been approved by the Board of Directors at its meeting held on August 27, 2021.

Donear Industries Limited manufactures Cotton Fabrics and Polyester Viscose Fabrics. The Company's segments include manufacturing and dealing in textiles, and rental property.

It offers Suitings, Trouser and Shirting Fabrics. It distributes its products over the counter (OTC) of retail outlets across India.

At around 11:44 AM on Sensex, Donear Industries was trading at Rs59.65 apiece up by Rs4.1 or 7.38%.

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