Nitco Acquires 51% Stake In New Vardhman Vitrified Pvt Ltd
by Charmi Gutka
Nitco Limited has acquired 51% stake in Surat based New Vardhman Vitrified Private Limited.
According to filing on BSE, New Vardhman Vitrified is setting up a tile plant with a capacity to manufacture 4.95 Mn sqmt p.a of Vitrified Tiles and 3.75 Mn sqmt p.a of Wall Tiles and the production is expected to commence within six months.
Nimbus Communication along with other promoters is planning to sell 100% stake in Neo Sports Broadcast and is in talks with couple of buyer in India and abroad for sale. The deal is likely to be closed by next calendar year.