Carysil Ltd.'s wholly-owned subsidiary Carysil UK Ltd. is set to acquire the remaining 30% equity shares of Yorkshire-based Carysil Brassware Ltd. for GBP 3,50,000.
The acquisition qualifies as a related party transaction, according to an exchange filing on Tuesday.
With this purchase, Carysil UK will achieve full ownership, with a 100% stake in Carysil Brassware.
The acquisition aims to enhance Carysil’s access to tap design and marketing capabilities, specifically in the kitchen and bath segments.
Carysil Brassware, a private company registered in England and Wales, specialises in designing and sourcing bathroom and kitchen products, particularly 'Instant Boiling Water Taps', which are packaged and marketed to the bathroom and kitchen industry.
Shares of Carysil Ltd. closed 0.57% lower at Rs 916.85per share, compared to a 0.02% advance in the BSE Sensex.
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