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Our Bureau

Hyderabad, June 12

Suryajyoti Infotech Ltd has acquired 20,000 equity shares of Suryajyoti Spinning Mills Ltd (SSML) for a total value of Rs 12,31,369. The mode of acquisition was through the stock market. According to a notice to the BSE from SSML, the Company's Executive Director, Mr Arun Kumar Agarwal, is also a Director in Suryajyoti Infotech. SSML, a manufacturer of yarns, is on a major expansion of its capacities in the State and has recently tied up with a global Italian player Pangea SRL. It is investing about Rs 104.5 crore in a speciality bottom weight fabric weaving, dyeing and finishing plant in Mahboobnagar district through the collaboration.

More Stories on : Mergers & Acquisitions | Textiles | Software

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