The acquisition is valued at a fair market value (net) of INR 690 crore based on all the fixed assets of the food division and respective current assets on a slump sale basis, Ruchi Soya said in a statement.
On 27 April 2019 DIC had acquired Mid-Tier Coating Resins Manufacturer in India. The acquisition facilitated full-scale entry into the fast growing economy’s coating resins market.
Products manufactured at Zet Town’s new ODM facility are developed using a customisable model that enables the company to control the smart technology in the device by customising product features and positioning in keeping with the requirements of customers.
With delivery and e-commerce segments growing exponentially, Hero Electric aims to support and steer the EV transition through partnerships to strengthen the B2B segment.