Ludlow Jute acquires 100% stake in Seva by Tara Foundation
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Ludlow Jute & Specialities has acquired 100% equity shares of Seva by Tara Foundation, a Section 8 (non-profit) company. Cost of acquisition is about Rs 10 lakhs (1,00,000 shares at Rs 10 each), paid in cash. Seva by Tara will operate as a wholly owned subsidiary and work in veterinary activities, educational support services, and other social work. This is outside Ludlow Jute's main jute business and is a related party transaction since it will be a WOS. The acquisition has been approved by the Ministry of Corporate Affairs.
Small Rs 10 lakh acquisition outside core jute business as a fully owned subsidiary. No material impact on operations or financials expected.