Intimation under Reg. 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 - Update on Investment
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Vishal Fabrics Ltd has bought 5,28,100 additional equity shares of Nandan Industries Pvt Ltd (NIPL) at Rs. 123 per share, spending about Rs. 6.50 crore in cash on April 28, 2025. With this purchase, Vishal Fabrics' stake in NIPL has risen from 23.17% to 35.41%, strengthening its position in the textile value chain. NIPL is already an associate company of Vishal Fabrics since March 2024 and operates in the same textile business (yarn, cotton fabrics, processing). NIPL reported turnover of Rs. 226 crore in FY24, Rs. 214 crore in FY23, and Rs. 232 crore in FY22. The transaction is classified as a related party deal since promoters have interest in NIPL, but it has been carried out at arm's length pricing based on a valuation report.
This is a strategic step-up investment in an existing associate in the same textile business, giving Vishal Fabrics greater influence without taking full control. For shareholders, the modest Rs. 6.5 crore cash outlay is unlikely to move the stock sharply, but it signals management's intent to deepen integration with NIPL. Watch for any future move toward majority control or consolidation.