Sunrays Textile Mills Limited (KASE:SUTM) proposed to acquire EMBEE Industries (Private) Limited for approximately INR 190 million on June 28, 2021. As per the terms of the transaction, Sunrays Textile Mills Limited shall acquire 0.17 million shares in EMBEE Industries at INR 1,100 per share. As a result of the transaction, EMBEE Industries (Private) Limited will be wholly owned subsidiary of Sunrays Textile Mills Limited. The transaction is subject to the approval of the shareholders of Sunrays Textile Mills Limited and any other regulatory approval.