Beezaasan Explotech Seeks Full Control of Asawara Industries

Beezaasan Explotech Ltd., a major explosives and accessories manufacturer, is in talks to take over the balance stake in Asawara Industries to gain 100% ownership. The move is strategic and seeks to solidify its presence in the Asawara Group and maximize operating synergies. Beezaasan Explotech deals in the manufacturing of slurry, emulsion explosives, and detonating fuses for the mining and construction industries. The firm recently got listed on the BSE SME platform with an IPO to raise ₹59.93 crore for expansion and repayment of debt. Through a complete buyout of Asawara Industries, Beezaasan Explotech aims to enhance its market presence and utilize common resources in its future growth.

 

Source: Reuters, Business Standard