Apar Industries to utilise Rs 111 cr for biz expansion
Apar Industries, engaged in metallurgical and chemical engineering, on Monday said it has completed the sale of its polymer division for Rs 111 crore and the amount will be utilised for expansion of its business.
By PTI |
MUMBAI: Apar Industries, engaged in metallurgical and chemical engineering, today said it has completed the sale of its polymer division for Rs 111 crore and the amount will be utilised for expansion of its business.
It would also use the amount for expansion of business including that of Uniflex Cables, which has been proposed for acquisition by Apar Industries on February 13.
In a filing to the Bombay Stock Exchange, the firm said it completed the sale of its polymer division to Eliokem India Pvt Ltd on February 15.
The polymer division is located in Gujarat. Shares of the company closed at Rs 240, down 5.81 per cent on the BSE.
It would also use the amount for expansion of business including that of Uniflex Cables, which has been proposed for acquisition by Apar Industries on February 13.
In a filing to the Bombay Stock Exchange, the firm said it completed the sale of its polymer division to Eliokem India Pvt Ltd on February 15.
The polymer division is located in Gujarat. Shares of the company closed at Rs 240, down 5.81 per cent on the BSE.
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