The share price of HIL company rose around 6% intraday Tuesday as it concluded the acquisition of the German-based Parador Holding GmbH. The HIL through its absolutely owned subsidiary company, HIL International GmbH, Germany has also completed the process of acquisition of the Parador Holdings GmbH after getting the required regulatory approvals from the authority.

The all-cash consideration is funded by the HIL through a mixture of INR debt, Euro debt & internal accruals. The final meeting kicks of procedure of integration of the operations to gain advantages from the joint synergies.

“Besides augmenting the business mix into a flooring solution, HIL is looking at leveraging the market understanding of Parador and trade relationships to fortify the business  level.” Dhirup Roy Choudhary, CEO & managing director, HIL said.

At 3:53 PM 28 August 2018, the share price was quoting at INR 2,396.45 up 135.90 or 6.01% on the NSE.