SH Kelkar & Company Ltd is acquiring VN Creative Chemicals while Shriram Transport Finance Company Ltd has acquired 17 per cent stake in Freight Tiger for $1.09 million. Also, London based Greater Pacific Capital LLP has exited its investment in HEG Ltd.
SH Kelkar acquiring VN Creative Chemicals
Fragrance maker S.H. Kelkar and Company has received its board’s approval to buy VN Creative Chemicals Pvt. Ltd (VNCC), a company engaged in aromatic chemicals, for an undisclosed amount.
The company aims to acquire the control of VNCC’s land and manufacturing unit in Maharashtra. The investment is part of an earlier envisaged cost-saving initiative in the overseas fragrance division, according to a stock market disclosure.
S.H. Kelkar has four manufacturing facilities, three of which are located in India (Mumbai, Vapi and Raigad) and one in the Netherlands. The company was founded in 1922.
Last year, SH Kelkar had bought the flavours division of Gujarat Flavours Pvt. Ltd for Rs 14.5 crore ($2.1 million), one of its distributors Rasiklal Hemani Agencies Pvt. Ltd, for Rs 30 crore ($4.48 million), and flavours division of Mumbai-based High-Tech Technologies Pvt. Ltd for Rs 28.6 crore ($3.7 million).
Shriram Transport Finance buys 17% stake in Freight Tiger
Shriram Transport Finance Company Ltd has acquired 17 per cent stake in Mumbai-based logistics solutions provider Freight Tiger for Rs 6.99 crore ($1.09 million).
The company allotted 63,279 equity shares for Rs 1,106 each, according to a stock market disclosure.
Freight Tiger, run by Freight Commerce Solutions Pvt Ltd, was founded in 2014 by Swapnil Shah. It has a mobile app which helps truck owners and logistics companies to utilise their vehicles.
Greater Pacific exits graphite electrodes maker HEG
Greater Pacific Capital LLP has exited its investment in graphite electrode maker HEG Ltd though open market transactions.
London-based PE firm Greater Pacific Capital had invested Rs 50 crore in HEG in 2006-2007 and through divestment, it has mopped up around Rs 140-150 crore over the weeks.
Noida-based HEG was established in 1977 and is the leading manufacturer and exporter of graphite electrodes in India. The company has the world’s largest single site plant of graphite electrodes with a production capacity of 80,000 MT per annum.