Paramount Textile PLC is set to invest approximately Taka 29 crore in solar power generation initiatives, according to a disclosure released on Monday. The textile manufacturer plans to acquire 2.89 crore shares of Paramount Solar Ltd, each with a face value of Taka 10, as part of its strategy to diversify its investment portfolio.
This investment will elevate Paramount Textile’s total ownership in Paramount Solar to 99.9 percent. Following the announcement, shares of Paramount Textile saw a rise of 1.72 per cent, reaching Taka 47.30 by 11:18 am at the Dhaka Stock Exchange (DSE).
Paramount Textile PLC is engaged in manufacturing woven fabric. The firm produces and markets yarn, solid dyed, woven fabrics, and printed fabrics in diverse shades, quality, construction, recipes, colours among others across countries.
