Minivet picks up stake worth US$ 3 mn in Shashwat International

Mumbai, May 29 (UNI) Minivet Ltd, an FII in the domestic market has picked up a stake worth US$ 3 million in Shashwat International Ltd on the advise of Smith Advisory.

Announcing this, the company pointed out that Shashwat International has embarked on an expansion plan to become the largest manufacturer of refractory in Asia.

Shashwat is promoted by Mr Ravin Jhunjhunwala who has refractory manufacturing facilities in China and USA, while the overseas operations of Ravi Jhunjhunwala are held in a joint venture between Mr Ravi jhunjhunwala and Mr L N Mittal of Mittal Steels, the release added.

UNI SN PM AG1615