A wholly owned subsidiary of Motilal Oswal Financial Services Ltd has acquired shares of Kusumgar Ltd for about ₹100 crore, the company said in a filing to exchanges on Wednesday.The subsidiary purchased 10.96 lakh compulsorily convertible preference shares and 16.44 lakh equity shares of the Mumbai-based textile company.
Kusumgar, incorporated in 1990, manufactures woven, coated and laminated synthetic engineered fabrics and posted revenue of ₹779 crore in FY25, up from ₹468 crore in FY24.
Motilal Oswal said the cash transaction forms part of its treasury investment book and aims to generate sustainable, long-term returns. The acquisition is not a related party deal and was executed at arm’s length, it added.The deal is expected to be completed within seven days.
Mumbai-based Kusumgar is a globally recognised manufacturer of technical textiles, ie, textiles that are engineered to meet specific performance requirements for industrial, medical, protective, or high-tech applications.
