Engineering products’ firm IFB Industries entered into a detailed definitive agreement with Ramsons Garment Finishing Equipment, Ramsons Udhyog and its promoters for Rs 35cr. The deal is on a slump sale basis for the entire industrial laundry equipment business. This agreement will allow IFB to consolidate and grow its laundry equipment business. The transaction will be completed by Q2FY19.
IFB Industries Ltd is currently trading at Rs 1,143.15 down by Rs 20.5 or 1.76% from its previous closing of Rs 1,163.65 on the BSE. The current market cap of the company is Rs 4,715.11cr.