Nirma Ltd of Ahmedabad, has acquired Saurashtra Chemicals, a manufacturer of soda ash, from the Asset Reconstruction Company of India Ltd. (Arcil) for an enterprise value of over INR 3 billion. Sauras…
Nirma Ltd of Ahmedabad, has acquired Saurashtra Chemicals, a manufacturer of soda ash, from the Asset Reconstruction Company of India Ltd. (Arcil) for an enterprise value of over INR 3 billion. Saurashtra Chemicals is a K K Birla group company. The proceeds of the sale will be used to clear the company“s debt with banks and financial institutions. Saurashtra Chemicals, which has a paid-up capital of INR 326.5 million, incurred a loss of INR 224.1 million on sales of INR 2.735 billion in the period 2002-2003.