Mirza International Ltd on Thursday after market hours said that it has acquired Hi-Life Fabricators Pvt Ltd for Rs 3.2 crore. Hi-Life has lease hold land of 4,000 sq mtr in Noida, Uttar Pradesh.
The company further said that the acquisition was done to meet its infrastructure requirement of the online platform of Mirza International.
The online platform is being developed for its domestic and international business. The infrastructure is also required to set up a back-office for IT enabled services for future projects.
The stock is down by nearly 12% on one year basis. Mirza International is leather and hide tanning and finishing company.