SEL Manufacturing Acquires Omega Hotels
SEL Manufacturing Company Limited has acquired 99.88% stake in Omega Hotels Ltd and 51.09% stake in SEL Aviation.
Pursuant to this acquisition, both Omega Hotels and SEL Aviation has become the subsidiary company of SEL Manufacturing Company.
Omega Hotels Ltd. is implementing a Hotel Project at Agra in the State of Uttar Pradesh and SEL Aviation Pvt. Ltd. is in the business of Aviation Services and holds a Non-Scheduled Operator's Permit under the Director General of Civil Aviation.
SEL Manufacturing Limited is a part of RS Saluja Group of Companies. It was founded in 1969 and is headquartered in Ludhiana. It manufactures yarns, knitted fabrics, readymade garments, and terry towels.
Last Oct, the company acquired 97.35% stake in Gujarat based Silverline Corporation Limited through it's wholly owned subsidiary - SEL textiles Ltd.
SEL Manufacturing on BSE
The group has also announced a capex of $400Mn to set up an integrated state of the art yarn manufacturing facility with 400000 spindles. This will be the largest yarn manufacturing facility in a single location. Work for the same has already started in Mahetwara.
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|2012-03-27||Omega Hotels - SEL Manufacturing||M&A||
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|SEL Manufacturing Company Limited||
Ram Saran Saluja
|274, G. T. Road, Dhandari Khurd.||http://www.selindia.in|
|Omega Hotels Limited||
|Plot No. 2, Taj Nagari, Phase-1, Opp. Shanti Mangalick Hospital, Fatehabad Road.||http://www.theomegahotel.com|