 "Hindalco")
Hindalco Industries Limited on Wednesday announced the acquisition of Ryker Base Pvt Ltd, a wholly-owned subsidiary of Polycab India Limited, for an enterprise value of Rs 323 crore.
The acquisition will be through Hindalco’s wholly-owned subsidiary Renuka Investments & Finance Ltd, with a purchase consideration for 100 percent equity stake, subject to customary adjustments for working capital and net debt as on the date of closing, Hindalco said in its release today.
The acquisition will strengthen Hindalco’s copper rod manufacturing capacity by providing a time-to-market advantage, allowing the Company to cater to the growing demand from electrical and electronics sectors.
Ryker’s 225,000 tonne
