DCM Shriram's arm Fenesta buys 53% stake in DNV Global for Rs 44 crore

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DCM Shriram's arm Fenesta buys 53% stake in DNV Global for Rs 44 crore - Business Standard

Quick Summary:

"This strategic investment marks a significant step in Fenesta's vision to enhance customer experience, deepen vertical integration, enhance product reliability, achieve accelerated growth in scale and unlock operational synergies across its supply chain," DCM Shriram said in a statement on Sunday.

DCM Shriram group firm Fenesta, which is into uPVC and aluminium windows and doors, has acquired 53 per cent equity stake in DNV Global for Rs 44 crore to expand its business.

The total acquisition cost is Rs 44 crore, which includes Rs 31 crore by subscribing to fresh equity share capital of DNV Global and Rs 13 crore by purchase of equity shares from the existing promoters/shareholders.