Orient Abrasives’ promoter sells 18% stake to Bombay Minerals

By Laura Syrett
Published: Friday, 15 November 2013

New stakeholder pays $8.7m for share in Indian refractories producer

Shareholding promoter Shri Gopal Rajgarhia has sold its 18% stake in India-based Orient Abrasives Ltd, which manufactures and sells calcined and fused alumina products, refractoriesand monolithics, to Bombay Minerals for Indian crore (Rs crore) 54.9 crore ($8.7m*).

"The promoters of Orient Abrasives have intimated to the company...

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