Today’s announcement that the promoter of the Co. Mr. Ruchit Patel has acquired 56,20,427 shares of Premier Tissues India ltd. means that the acquisition of Premier Tissues is complete. Rubfila had about a year ago acquired 50% of Premier Tissues. The balance has now been acquired by Rubfila’s promoter, it appears in his individual capacity.
Premier Tissues is into Tissue paper, which is the fastest growing segment in the paper industry. It has created a brand called Premier & is quite popular. This could materially change the investor perception of the Co. The link to the Premier Tissues website: https://www.premiertissues.com
The Co. is also in the middle of its expansion of its regular business of rubber threads as it setting up six production lines in a phased manner. The promoters have also been increasing its stake gradually,