Mumbai, Sept 22 - Bajaj Hindusthan Sugars Ltd said on Monday its board approved acquiring Phenil Sugars, which, through its units, own 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 25 rupees on Friday in a strong Mumbai market.