Transaction Grindwell Norton Limited (BSE:506076) agreed to acquire PRS Permacel Private Limited for INR 1220 Million on May 6, 2022. was approved by Grindwell Norton board of directors. For the financial year April 2020 – March 2021, PRS Permacel reported the sales of INR 1261.8 million and net profit of INR 23.4 million. Transaction is expected to complete in May or June 2022. The transaction is subject to the necessary statutory and regulatory approvals including the approvals of Hon'ble National Company Law Tribunal, the shareholders and creditors of each of the companies. Ernst & Young Private Limited acted as financial advisor for Grindwell Norton Limited.

Grindwell Norton Limited (BSE:506076) completed the acquisition of PRS Permacel Private Limited on May 27, 2022.