Indag Rubber to acquire more than 51% stake in five companies

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Indag Rubber to acquire more than 51% stake in five companies

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Indag Rubber has agreed to acquire more than 51% shares or voting rights in five companies – Samyama Jyothi Solar Energy, Poorvaj Solar Energy, SUN Solar KFP Bellari, BG SUN Solar Hiriyur and Arete Elena Energy.

The total investment in above named 5 companies would not exceed more than Rs 30 crore in aggregate. The aforesaid 5 companies are Special Purpose Vehicle (SPV) which are yet to commence its business.

Indag Rubber is a tread manufacturing company. The company is engaged in the manufacturing of the Precured Tread Rubber, Bonding Repair and Extrusion Gum, and Rubber Cement, which are used for retreading of tires.