Jindal Worldwide Acquires Planet Spinning Mills
2018-09-24 Merger and Acquisitions Textiles & Textile Products Western India
Jindal Worldwide Limited has acquired 30,00,000 Equity Shares at Face Value @ Rs. 10/- aggregating to Rs. 3,00,00,000/- ( Rupees Three Crores Only) of Planet Spinning Mills Private Limited. Jindal Worldwide Limited becomes the shareholder of Planet Spinning Mills Private Limited with the aggregate of 100% Stake of Equity Share Capital and as a result Planet Spinning Mills Private Limited becomes the Wholly Owned Subsidiary Company. This Acquisition is for better expansion of Business and to further strengthen the position of the Company in the Spinning segment of Textile Industry.