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Merger And Acquisitions | October 29, 2013
#39822

Banswara raises stake in JV Carreman Fabrics

Banswara Syntex has raised its stake to 80 per cent in its joint venture, Carreman Fabrics India, states a BSE filing. Banswara Syntex bought 37,20,000 equity shares of Carreman Fabrics India from Carreman France. Carreman Fabrics India which is now known as Banswara Global was a 50:50 JV between BSL and Carreman France.    Banswara Syntex is a vertically integrated textile mill manufacturing man-made synthetic blended Yarn, wool and wool mixed yarn, all type of Fabrics, Jacquard Furnishing Fabrics, besides production of Readymade Garments and Made-up's.    It was a joint sector company with RIICO (A Govt of Rajasthan Undertaking) and RL Toshniwal. Banswara Syntex exports its products to more than 50 countries including US, UK, Canada, Spain, Germany, Italy, France, Philippines, Turkey and GCC countries.

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