The Competition Commission of India (CCI) has approved Aloke Lohia’s acquisition of a 20.51% stake in Indo Rama Synthetics (India) Limited (IRSL), from Brookgrange Investment Limited, as well as the transfer of a 20.51% stake in IRSL to Urmila Lohia by Aloke Lohia.
The proposed combination involves:
- Acquisition of 20.51% equity shares of IRSL from Brookgrange Investment Limited by Aloke Lohia; and
- Transfer of 20.51% equity shares of IRSL to Ms. Urmila Lohia (by way of gift) by Aloke Lohia.
Acquirers
Aloke Lohia and Urmila Lohia are promoters of IRSL.
IRSL specializes in the production and distribution of various polyester products, including polyester chips, polyester fibers, and polyester yarns.
Detailed order of the CCI will follow.
