Ess Dee acquires India Foils

MUMBAI: Ess Dee Aluminium on Wednesday informed BSE that it has acquired the Kolkata-based India Foils from Madras Aluminium (Malco). Under the BIFR-sanctioned rehabilitation scheme, Ess Dee and Malco have equally infused Rs 261-crore in India Foils in the form of equity and preference shares.

This infusion has made India Foils��� net worth positive and helped it come out of BIFR net. Ess Dee also said it will shortly restart the closed foil stock and rolling plant of India Foils in West Bengal. The acquisition makes Ess Dee the country���s largest pharmaceutical foils company.