Nitco Acquires 51% Stake In New Vardhman Vitrified Pvt Ltd
by Charmi Gutka
@Nitco_Limited1 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.
Hyderabad-based CVR Group unit Navayuga Power may sell stake in its power assets to Toshiba, Sumitomo, Mitsubishi & GDF Suez. The deal Value expected to be in between INR 13,800 to 14,400 Mn for equity stake 49 to 51%.
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