Bajaj Hind Sugars buys two sugar plants in UP

Bajaj Hind Sugars buys two sugar plants in UP

Mumbai: Bajaj Hindusthan Sugars Ltd said on 22 September its board approved acquiring Phenil Sugars, which, through its units, owns two sugar plants in Uttar Pradesh with total capacity of 6,000 tonnes crushed per day.

Bajaj Hindusthan Sugars said in a release it will offer one share for every two shares held in Phenil Sugars, but did not indicate the financial details of the transaction.

Ahead of the announcement, Bajaj Hindusthan Sugars shares closed at Rs25 on Friday in a strong Mumbai market.

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