Carysil Ltd.'s wholly-owned subsidiary Carysil UK Ltd. is set to acquire the remaining 30% equity shares of Yorkshire-based Carysil Brassware Ltd. for GBP 3,50,000.
The acquisition qualifies as a related party transaction, according to an exchange filing on Tuesday.
With this purchase, Carysil UK will achieve full ownership, with a 100% stake in Carysil Brassware.
The acquisition aims to enhance Carysil’s access to tap design and marketing capabilities, specifically in the kitchen and bath segments.
Carysil Brassware, a private company registered in England and Wales, specialises in designing and sourcing bathroom and kitchen products, particularly 'Instant Boiling Water Taps', which are packaged and marketed to the bathroom and kitchen industry.
Shares of Carysil Ltd. closed 0.57% lower at Rs 916.85 per share, compared to a 0.02% advance in the BSE Sensex.
RECOMMENDED FOR YOU
FPIs Remain Net Sellers For 26th Consecutive Session
Nov 04, 2024
Cochin Shipyard Share Price Falls As Government Plans To Sell 5% Stake
Oct 16, 2024
Government To Sell Up To 5% Stake In Cochin Shipyard Via Offer-For-Sale
Oct 15, 2024
Warren Buffett Cuts Bank Of America Stake Below 10%, Letting Him Trade In Secret
Oct 11, 2024
POPULAR