Comments
Surat-based United Wolfram’s promoter Abhishek Gami has acquired a controlling stake in Rapicut Carbides, a manufacturer of a range of tungsten carbide products, for Rs 7.53 crore. Gami has acquired the stake in his personal capacity.
Gami has acquired a 33.39 per cent stake through a combination of share purchase agreement from Rapicut Carbides’ existing promoter group and through an open offer mechanism, the company said in a statement.
Gami is the Managing Partner of United Wolfram, a manufacturer of specialty chemicals such as tungsten and cobalt, tungsten powders and its salts.
Incorporated in 1977 in Ankleshwar, Gujarat, BSE-listed Rapicut Carbides is a manufacturer of tungsten carbide tips, inserts and other carbide products from ore stage.
Pantomath Capital Advisors was as the sole investment banker to the acquirer and also as the manager to the open offer under SEBI takeover code.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.