Piti engineering purchased 100% stake of bagadia chaitra industries

The share price of Pitti Engineering (PEL) hasn’t changed much after the company agreed to buy all the shares of Bagadia Chaitra Industries Private Limited (BCIPL) and its shareholders for a total value of Rs 124.92 crore. The final acquisition cost will be determined by adjusting this value for any debts and changes in working capital on the closing date, along with other agreed-upon adjustments. Additionally, PEL will provide up to Rs 40 crore to BCIPL on the closing date to help clear its existing debt.