Kiri Industries to acquire 81% stake in Indo Asia Copper; Stock rises

27 Jun 2022 , 10:11 AM

Kiri Industries Limited has informed to the exchanges that  it is acquiring 81% Equity stake of Indo Asia Copper Limited. Accordingly, Indo Asia Copper Limited become a wholly owned subsidiary of the Company.

As per the filing, the prospective intent is for manufacturing of Copper & allied products as well as Fertilizers.

After acquisition of 8100 equity Shares of Rs. 10/- each, equity stake of the Company in IACL will be 100% and IACL become wholly owned subsidiary.

At around 10:14 AM, Kiri Industries was trading at Rs460.80 per share up by Rs3.15 or 0.69% from its previous closing of Rs457.65 per share on the BSE.