Indigo Paints Limited completed the acquisition of Apple Chemie India Pvt. Ltd. for INR 0.01 million.
April 02, 2023
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Indigo Paints Limited (NSEI:INDIGOPNTS) agreed to acquire Apple Chemie India Pvt. Ltd for INR 0.01 million on April 3, 2023. Under the terms, Indigo Paints will acquire 44,924 equity shares. Indigo Paints also has an option to acquire additional stake in Apple Chemie at the end of 3 years. During 2022, Apple Chemie India Pvt. Ltd reported turn over off INR 318.1 Million. Acquizon Advisory Pvt Ltd and Acumen M&A Advisors LLP acted as financial advisor and Clove Legal acted as legal advisor and Acquizon Advisory Pvt Ltd to Indigo Paints Limited. Kreo Capital Private Limited acted as financial advisor and Rajkotia Associates Advocates acted as legal advisor to Apple Chemie India Pvt. Ltd.
Indigo Paints Limited (NSEI:INDIGOPNTS) completed the acquisition of Apple Chemie India Pvt. Ltd on April 3, 2023.
Indigo Paints Limited is a paint manufacturing company. The Company is engaged in the manufacture and sale of decorative paints and operates its manufacturing facilities in Jodhpur (Rajasthan), Kochi (Kerala) and Pudukkottai (Tamil Nadu). Its product offerings include emulsions, enamels, water proofing solutions, wood coatings, primers and putties, and other products. It manufactures category-creator products, including metallic coat emulsions, tile coat emulsions, bright ceiling coat emulsion and floor coat emulsions in India. It offers various other types of emulsion paints, such as the dirtproof and waterproof exterior laminate, exterior and interior acrylic laminate, and enamels, such as polyurethane (PU) super gloss enamel. It offers wood paint and offers a range of options for painting wooden surfaces. It also offers aluminum paints to paint surfaces of storage tanks, metal pipes, and metal roofs. The Company's products are sold under only one brand name, Indigo.