Canara Bank seeks takeover bids for Electrex under BIFR advice.
Updated: Feb 10, 2014 02:43:15pm
Bangalore, Feb 10 (KNN) Canara Bank today invited offers for takeover or merger or amalgamation of Bangalore based Electrex India Limited, a sick manufacturer of different types of power tools like drills, grinders, cutters etc.
The PSU bank has invited the takeover bids on instructions from the Board for Industrial and Financial Reconstruction (BIFR) for the company which is located in Peenya Industrial Area with a corporate office in Mumbai.
As an operating agency, the Canara Bank said that the fair market value of the fix assets of Electrix as on November 16, 2013 was Rs 46.32 crore.
The company has a land area of 137415 square feet, which is valued at Rs 41.22 crore. (KNN Bureau)
The PSU bank has invited the takeover bids on instructions from the Board for Industrial and Financial Reconstruction (BIFR) for the company which is located in Peenya Industrial Area with a corporate office in Mumbai.
As an operating agency, the Canara Bank said that the fair market value of the fix assets of Electrix as on November 16, 2013 was Rs 46.32 crore.
The company has a land area of 137415 square feet, which is valued at Rs 41.22 crore. (KNN Bureau)
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