Indo Count soars 10% on completing acquisition of home textile biz of GHCL

The acquisition would potential see addition of around Rs 1,300 - 1,500 crore per annum to the topline of the Company at peak capacity.

Shares of Indo Count Industries soared 10 per cent to Rs 186 on the BSE in Monday’s intra-day trade, gaining as much as 17 per cent in the past two trading sessions after the company completed the acquisition of the home textile business of GHCL. Indo Count has now become the largest global home textile bedding manufacturer.

In December 2021, Indo Count Industries and its subsidiary acquired the home textile business of GHCL in India and identified assets (inventory and intellectual property) of its US subsidiary Grace Home Fashions LLC (GHF) for an all-cash consideration of Rs 593 crore.