Vishal Fabrics Limited has announced the acquisition of an additional 5,28,100 equity shares in Nandan Industries Private Limited (NIPL) for a total consideration of ₹64.96 crore, further strengthening its stake in the associate company.
The acquisition, completed on April 28, 2025, was carried out at a price of ₹123 per share, based on an independent valuation report. With this transaction, Vishal Fabrics’ holding in Nandan Industries has increased from 23.17% to 35.41% of the company’s equity share capital.
Nandan Industries Private Limited, an Ahmedabad-based company, is engaged in textile manufacturing with operations including weaving, bleaching, dyeing, processing, printing, mercerizing, and the import/export of yarn and fabrics. The company has a strong financial track record, having reported a turnover of ₹226.04 crore for the financial year ending March 31, 2024.
According to regulatory filings under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the transaction falls under the category of a related party transaction, as Nandan Industries has been an associate company of Vishal Fabrics since March 29, 2024. The company clarified that the acquisition was conducted on an arm’s length basis.
The authorized share capital of NIPL stands at ₹6.81 crore, divided into 50.40 lakh equity shares and 17.75 lakh preference shares of ₹10 each. Its paid-up capital is ₹6.09 crore.
Vishal Fabrics stated that the objective behind increasing its stake is to focus on further development and business enhancement within the textile sector. No regulatory approvals were required for this acquisition, and the transaction was settled via cash consideration.
