Raymond acquires Robot Systems for Rs 28 crore

NEW DELHI: Suiting fabric maker Raymond Ltd today said it has acquired Robot Systems, a wholly--owned subsidiary of apparel manufacturer Gokaldas Exports, in a Rs 28-crore deal.

The acquisition was done through its wholly-owned subsidiary Silver Spark Apparel Ltd, Raymond said in a filing to the BSE.

"Silver Spark Apparel has completed the said acquisition of Robot Systems on September 10, 2015. As per the agreement, the total consideration for the above acquisition is Rs 28 crore," it added.

On April 3, 2015, Raymond had said that Silver Spark Apparel had entered into a share purchase agreement with Gokaldas Exports to buy Robot Systems.

Raymond's shares today settled 0.04 per cent down at Rs 392.45 apiece on the BSE.