20 Microns Limited, an Indian industrial minerals company, has acquired 545,454 shares in its Malaysian subsidiary, 20 Microns SDN BHD, for approximately 120 million Malaysian Ringgit (RM) or ₹24.37 crore. The acquisition, announced today, maintains the parent company’s 99.99 per cent stake in the subsidiary.
The shares of 20 Microns Limited were trading at ₹284.10, down by ₹9.15 or 3.12 per cent on the NSE today at 3.15 pm.
The Malaysian entity, incorporated in 2008, specialises in trading calcium carbonate and producing superfine limestone powder products. It reported a turnover of RM 1,280,658 for the fiscal year ending March 31, 2024.
20 Microns Limited stated that the acquisition aims to further its forward integration in the minerals business and expand its global operations. The transaction, conducted at arm’s length, was made in cash at RM 22 per share.