Ahmedabad-based Sintex Industries has acquired Digvijay Communication and Networks through its 74 per cent subsidiary Zeppelin Mobile Systems India in the form of a slump sale deal amounting to Rs 54 crore. The company which is into plastics and textiles segment said that acquisition will help it enhance its presence in the central part of the country.
Amit Patel, managing director, Sintex Industries, said, “The acquisition will play an important role in enabling Zeppelin to further penetrate into the central region.”
Yes Bank acted as the financial advisor to the company in the transaction, while Equirus Capital were the sell side bankers.
Source: business-standard
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