IFB Industries gets nod to acquire entire laundry business from Ramsons Garment

27 Jul 2018 Evaluate

IFB Industries has received an approval to enter into detailed definitive agreement to acquire the entire Industrial Laundry equipment business catering to laundry Segment from Ramsons Garment Finishing Equipment and Ramsons Udhyog and its Promoters at a consideration of Rs 35 crore as a going concern / running business, on a slump sale basis. The Board of Directors of the company at their meeting held on July 26, 2018, approved the same.

This acquisition is in same field of business of IFB and will help in consolidation and growth of Laundry Equipment Business. The transaction is expected to be completed within Q2 of FY 2018-19.

IFB Industries is engaged in the business of manufacturing and trading of home appliances and fine blanking components. The company operates through two segments - Engineering and Home Appliance Products.

IFB Industries Share Price

1821.25 36.55 (2.05%)
23-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
Crompt.Greaves Cons. 390.65
Whirlpool Of India 1850.10
Bajaj Electricals 764.50
IFB Industries 1821.25
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