Sat Industries Ltd has informed that the Sah Polymers Limited, a material subsidiary of the Company has acquired a stake of 51.01% in Ribcorp Polyweave Private Limited and consequent thereto it has become a Subsidiary of Sah Polymers Limited with effect from January 5, 2022.
The new industry belongs to manufacture flexible intermediate bulk containers.
As per regulatory filing, the prime object is to broad base the existing activities with new line of activities which are of high value and have bright futures in terms of revenue and growth. The target Company is engaged in the business of manufacturing of Flexible Intermediate Bulk Containers (FIBC).
At around 9:16 AM, Sat Industries was trading at Rs49.95 per piece higher by 5.49% on Sensex, after hitting 52-week high at Rs52.50 on Friday.
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