Mangalam Global Enterprises informed the exchanges that the company has signed an agreement for the strategic acquisition of new assets.
Under the deal, the company will purchase machinery and factory buildings from Shree Gurukrupa Oil and Foods along with land measuring 19,833 square meters.
“Mangalam Global Enterprise Limited (“MGEL/the Company”) entered into an agreement on June 18, 2024 to purchase plant, machinery and buildings from Shree Gurukrupa Oil and Foods (“Partnership Company”) and land measuring 19,833 square meters carrying a survey. Nos. 186, 188 and 189 (collectively referred to as “Assets”) of individual landowners of Taluka: Jotana, Mehasana, Gujarat,” the company said.
Mangalam Global Enterprise Limited is the agricultural vertical arm of the Mangalam Group based in Gujarat and Rajasthan, producing castor oil, mustard oil, soybean oil and their derivatives, and ginning wheat, rice and cotton.