Borosil’s arm completes acquisition of 90.17% stake in Goel Scientific

28 Apr 2023 Evaluate

Borosil’s subsidiary--Klass Pack (KPL) has completed acquisition of initial 90.17% stake in Goel Scientific Glass Works (Goel Scientific) by way of purchase of 32,91,330 equity shares from Hemant Goel and other sellers. With this purchase, Goel Scientific has become a subsidiary of KPL and in turn a step down subsidiary of the company.

With this acquisition, KPL will make an entry into the growing market of industrial process systems in Research and manufacturing sectors of API/Bulk Drug/Intermediates, Chemicals/Agro-chemicals, Fertilisers and Defence. The combined operations shall give advantage of complementary skill sets and result in significant benefits such as, greater market penetration, enhanced product offerings and innovative range of products, entry into new markets, new process learnings, availability of highly skilled glass blowing capabilities, input cost optimisation and potential sourcing benefits.

Borosil is engaged in the business of manufacturing and trading of Scientific and Industrial Products (SIP) and Consumer Products (CP). SIP consist of laboratory glassware, instruments, disposable plastics, liquid handling systems and explosion proof lighting glassware. CP consist of microwavable and flameproof kitchenware, glass tumblers, tableware and dinnerware, Appliances and Storage products.

Borosil Share Price

402.10 -17.25 (-4.11%)
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
Orient Electric 244.85
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