RRIL Limited (BSE:531307) agreed to acquire additional 38.30% minority stake in Raj Rajendra Industries Limited for INR 150 million on January 9, 2021. RRIL Limited will acquire 3255485 equity shares of INR 10 each. Post-acquisition RRIL Limited will be holding 56.89% shares in Raj Rajendra Industries Limited. For the year ended on March 31, 2020, Raj Rajendra Industries Limited reported revenue of 753.5 million and EBIT of 18.6 million. The transaction is subject to shareholder approval of RRIL Limited. As of February 19, 2021, shareholders of RRIL Limited approved the transaction. The transaction is expected to close on or before March 31, 2021.