Shasha Denims plans to buy 40 percent stakes in EOS Textile at Tk 48 crore.

Of the amount, Shasha will raise Tk 30 crore through initial public offering and the rest will came from the company's cash flow.

EOS, a sister concern of Italian company Berto EG Industria Tessile SrL, is a 100 percent export oriented textile company.

Parveen Mahmud, chairman of  Shasha Denims Ltd; Shams Mahmud, managing director, and Giuseppe Berto, managing director of EOS Textiles Ltd, attended the deal signing ceremony in Dhaka on Saturday.