New Delhi [India], May 12 (ANI/TPT): One of the prominent investment banking Company in Singapore, Nomura Singapore Limited has recently acquired a stake in Vaxtex Cotfab Limited, a National Stock Exchange listed company that is one of the leading textile manufacturing companies in India.
Nomura Singapore acquired 2.65 lakh equity shares in Vaxtex Cotfab Limited at an average price of Rs 35.6 per share. The stock was sealed in the 5 per cent upper circuit at Rs 35.60.
Speaking on the occasion, Promoters of VCL stated that, "We are gratified with this strategic alliance which has henceforth enabled us to amplify opportunities in the market, to raise our vista for the succeeding years. This is yet another stepping stone of the company which propels to the next stage of its growth path."Nomura, which is among one of the renowned global financial services groups, has integrated network spanning over 30 countries and regions. Now, with acquiring stakes in Vaxtex Cotfab Limited, they aim to seek economies of scale and acquire a larger market share. Additionally, the recent move of acquiring stakes in Vaxtex Cotfab Limited will allow Nomura Singapore to take control of and work on the strengths of Vaxtex, which already is an established name in the realm of textile manufacturing.
Vaxtex Coftab Limited, is one of the supreme textile manufacturing Company inIndia and now the brand further is ready to scale up its operation. The company has made up a name for itself through their efficiency and effectiveness. Through successfully achieving the milestone of a production capacity of approximately 12 Lac metres/month in suiting and shirting, the brand has created quite a buzz in the industry.
Now with close ties with Nomura Singapore, the brand is all set to cater to giant export houses, corporate buyers as well as emerging domestic traders.
For more details, Visit :This story is provided by TPT. ANI will not be responsible in any way for the content of this article. (ANI/TPT)