Borosil Renewables Limited completed the acquisition of Gujarat Borosil Limited.
February 11, 2020
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Borosil Renewables Limited (BSE:502219) agreed to acquire Gujarat Borosil Limited (BSE:523768) on January 15, 2020. Under the terms of the transaction, Borosil Renewables will acquire the shares of Gujarat through the issuance of 14.2 million shares in the ratio of one fully paid up equity share of Re.1 of Borosil Renewables for every two equity shares of Rs.5 of Gujarat each fully paid up held in our Gujarat Borosil to remaining equity shareholders of our Gujarat Borosil. Upon completion of the transaction, Gujarat Borosil will be dissolved and the trading of securities will be stopped. The transaction was approved by the Board of Directors of Gujarat Borosil.
Borosil Renewables Limited (BSE:502219) completed the acquisition of Gujarat Borosil Limited (BSE:523768) on February 12, 2020.
Borosil Renewables Limited is an India-based company, which is engaged in manufacturing of low iron textured solar glass for application in photovoltaic panels, flat plate collectors and green houses. Its products, such as Selene, is an anti-glare solar glass suitable for PV installations near airports and Shakti, is a solar glass in matt-matt finish, low iron textured solar glass, 2 mm fully tempered solar glass, Nosbera, antimony-free solar glass, solar glass with anti-reflective coating, and solar glass with anti-soiling coating. It also manufactures specialty glasses. The Company, through its brand BOROSIL, manufactures a range of lab ware, scientific ware, and consumer ware products. Its present solar glass manufacturing capacity is 450 tons per day (TPD). The Company's subsidiaries include Geosphere Glassworks GmbH, Laxman AG, GMB Glasmanufaktur Brandenburg GmbH, and Interfloat Corporation.