SRF To Divest Its Engineering Plastics Business
SRF Limited had signed a Business Transfer Agreement with DSM India Private Limited for divestment of Engineering Plastics Business. The buyer is DSM lndia Private Limited, which is a wholly owned subsidiary of Royal DSM, Netherlands. The buyer does not belong to the promoter/ promoter group/group companies.
Sales of Engineering Plastics Business during 2017-18 was Rs 209 Crores (4.5% of the turnover of the Seller during 2017-18). Seller has multiple business verticals, one of which includes the Engineering Plastics and therefore it is not possible to calculate the net worth attributable to the business separately.