Hanung Toys gets order from IKEA

MUMBAI: Hanung Toys & Textiles Ltd has signed an export order tie-up with IKEA Sweden, for exporting soft toys / kids furnishing worth 108 million euros or Rs 600 crore.

The company expects business from IKEA to touch 15 million euros in first year of agreement, 23 million euros in second, 30 million in third and 40 million in the fourth year.

Hanung Toys shares surged over 7 per cent on the news to Rs 144.50 on NSE, with quantity traded 10,16,067.