Borosil

India's first solar glass manufacturer Borosil Renewables Ltd has acquired 86 per cent stake in Europe's largest solar glass manufacturer Interfloat Group for an undisclosed sum of money. "With its acquisition of the Interfloat Group, BRL's solar glass manufacturing capacity will grow to 750 tonnes per day from the current 450 TPD, an increase of 66 per cent," the company said in a statement. This capacity of the combined entity will further increase to 1,300 TPD by year end with the commissioning of a new furnace with a capacity of 550 TPD in India. "This acquisition will make a wider range of solar glass available to BRL's expanded customer base in Europe. Borosil leverages its highly efficient production technology to bring greater productivity and a lower carbon footprint to the European entity," it said. Interfloat Group consists of two companies -- GMB Glasmanufaktur Brandenburg GmbH (GMB), based in Tschernitz, Germany, and Interfloat Corporation, based in Liechtenstein. GMB

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Borosil Renewables' March 2022 quarter net profit fell to Rs 46.38 crore against Rs 66.87 crore in the year-ago period, mainly due to lower revenues.

The company will mull fund raise, which may include issuance of equity shares or any other securities of the company, through preferential issue on a private placement basis.

Borosil Ltd on Monday reported 15.23 per cent rise in consolidated net profit at Rs 25.26 crore for the third quarter ended December 2021

Mahindra Holidays & Resorts, Lux Industries, Dish TV India and Borosil rallied more than 10 per cent on the BSE in intra-day trade

SORIL Infra, Paisalo Digital, Fineotex Chemical, Rupa & Co, Borosil Renewables, Nava Bharat Ventures and Hindustan Foods rallied up to 20% on the BSE in intra-day trade

The company's shares were locked in 10 per cent upper circuit limit on the BSE

The company said the funds raised through QIP last week will help to undertake planned expansion

The funds raised are planned to be utilized to service its capital expenditure requirements for a brownfield expansion to more than double its solar glass production capacity to 950 tons per day

The Borosil Group, which runs the flagship kitchen and dining ware business under the brand names of Borosil and Larah, is amalgamating its two listed group companies and three promoter-held companies. Following the merger, for which it has received the necessary statutory approvals, the promoters' holding in Gujarat Borosil will come down to 70.5 per cent from 74.95 per cent now, the group said in a statement on Wednesday. Amalgamation envisages merger of Gujarat Borosil, Vyline Glass Works and Fennel Investment & Finance into Borosil Glass Works and also demerger of consumer and scientific businesses of Borosil Glass Works into Borosil, the group said. The merger is to simplify group structure by eliminating cross holdings and will give Borosil Glass Works shareholders direct proportional shareholding in the Gujarat Borosil business to reduce related party transactions to create more administrative efficiencies. Under the merger, two shares of Gujarat Borosil will fetch one ...

Klasspack is a manufacturer of glass ampoules and tubular glass vials used as primary packaging materials by pharma companies