Asian Paints acquires majority stake in Harind Chemicals

Asian Paints has acquired 51% stake in Harind Chemicals and Pharmaceutical (Harind) from Aapex Power and Industries for a consideration of Rs 14.28 crore.

Accordingly, Harind and Nova Surface-Care Centre, a wholly owned subsidiary of Harind, have become subsidiary companies of the Company.

The second tranche of 19% and the third tranche of 20% would be acquired from the existing shareholders, in a staggered manner.

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