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Balrampur Chini to acquire stake in Indo Gulf Ind.

MUMBAI: Balrampur Chini Mills has entered into an agreement for acquiring 27.54 per cent stake in Indo Gulf Industries for Rs. 1.61 crore. As per the agreement, the company will buy 26.34 lakh equity shares of Indo Gulf Industries from the promoter SK Garg at a price of Rs. 7 per fully paid equity share and Rs. 2 each for shares of Rs. 5 paid up, the company informed the BSE.

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