IFB Industries signs agreement with IFB Automotive Pvt Ltd to acquire GAAL
DSIJ Intelligence / 20 Jul 2017
IFB Industries Ltd has entered in to an agreement with IFB Automotive Pvt Ltd towards acquisition of Global Automotive & Appliances Pte Ltd (GAAL).
IFB Industries Ltd has entered in to an agreement with IFB Automotive Pvt Ltd towards acquisition of Global Automotive & Appliances Pte Ltd (GAAL).
The consideration amount of Rs 19.97 crore was paid to acquire 100% equity capital of GAAL.
IFB Industries Limited is engaged in engineering and manufacturing of diverse parts and accessories for motor vehicles. The company is also engaged in the business of manufacturing of fine blanking componentsand manufacturing and trading of home appliances.
Meanwhile, at Rs 728.05 per share, the stock traded in negative territory slipping 0.14% on BSE. The stock on NSE attracted a traded volume of 921 shares and a traded value of 6.74 lakh.
The company has a low return on equity of 9.80% for last 3 years. The stock on yearly basis has given 90.43% returns.
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