Grindwell Norton Limited to acquire PRS Permacel Pvt Ltd

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The Board of directors of Grindwell Norton Limited have approved the execution of the Share Purchase Agreement (“SPA”) with the existing shareholders of PRS Permacel Private Limited for the acquisition of 100% equity shares for a consideration of Rs. 1220 Million (subject to closing adjustments).

The acquisition will help broadening the product portfolio and alignment with the global business interests.

PRS Permacel is engaged in manufacturing and marketing of aesthetic decals, other adhesive tapes etc. in India.