Sujana Universal Industries Limited (SUIL) would merge its appliances division with Chennai-based Vijay Home Appliances, according to a company filing to the National Stock Exchange.
The company said it had identified Vijay Home Appliances (VHAL) as having similar line of business after due search.
It said the 48-year-old Vijay Home Appliances has a strong marketing network and brand appeal across eight states, and is known for convenience appliances like steam irons, rice cookers and geysers.
“Sujana Universal is in the process of evaluating the business value and assets of Vijay Home Appliances and its appliances division. Once this process is complete, SUIL will finalise the draft scheme and initiate the process for merger/arrangement,” the company stated on Friday.
