Zuari Global has acquired around 48.98% shares of Forte Furniture Products India (FFPL) from Indian Furniture Products (IFPL), subsidiary of the Company. IFPL being a subsidiary of the Company, as such the promoters also have an indirect interest in the entity acquired and IFPL being related party the transaction falls under the related party transaction.
The cost of acquisition is around Rs 13.85 crore, for 1,37,20,000 shares of face value of Rs 10 each in the paid up share capital of FFPL.
Zuari Global, erstwhile Zuari Industries, has been the principal promoter entity for the Zuari Group of Companies, with forays into fertilizer, seeds, engineering, lifestyle industries and services.
