Spentex picks 14.55% promoters stake in Indo Rama Textiles Ltd
22 Mar '06
1 min read
Spentex Industries Ltd (part of CLC Global) has purchased 14.55% of promoter's stake in Indo Rama Textiles Ltd and has agreed to acquire 49.03% of the promoter's stake from Lohia family.
Indo Rama is a leading manufacturer of blended yarns and not cotton yarns, as inadvertenly reported in our news yesterday.
It has two plants in Butibori (near Nagpur) Maharashtra – Indo Rama Synthetics (India) Ltd, and Indo Rama Textiles Ltd other than the Indo Rama Textiles Ltd plant at Pitahampur, Indore.
Besides, Indo Rama Textiles Ltd, Butibori also produces blended yarn.
Note: Indo Rama Synthetics (India) Ltd. and Spentex industries Ltd. (part of CLC Global) are separate entities and we withdraw our news titled “CLC buys Indo Rama” carried out yesterday. Inconvenience caused is regretted.
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