Shree Ganesh Remedies Ltd announced that its Board of Directors have decided to enter into the Share Purchase Agreement to acquire the 74% stake of Dhari Chemicals Limited (DCL).
DCL was incorporated to carry on the business of manufacturing of speciality chemicals, chemical compounds (organic and in-organics) in all forms (solid, liquid and gaseous) and of all kinds of solvents, alkalies, intermediates, chemical auxilliaries, disinfactents, biochemicals and its related preparations, articles and products.
DCL holds leasehold rights admeasuring an area about 40554.30 sq.mt. situated in Dahej-II industrial Corporation, Bharuch, Gujarat for which the down payment is already paid and balance instalments will be paid as per the terms of the lease deed.
Further, the Company will also take steps to complete the acquisition of remaining 26% equity stake from existing shareholders.