The Board of Directors of Ion Exchange (India) at its Meeting held today i.e. 20 April 2023, has inter alia considered and approved a proposal to invest and takeover a target company namely - MAPRIL -Produtos Químicos e Maquinas Para a Industria, Lda which is located in Portugal.

 

The Company shall invest approximately Rs 24 crores and acquire 11,11,500 equity shares equivalent to 100% of the issued and paid-up equity capital of MAPRIL - Produtos Químicos e Maquinas Para a Industria, Lda as per the Share Purchase Agreement to be executed.

 

The target entity is engaged in the business of water treatment, chemical and equipment. The transaction is expected to close by June end.