Kirloskar Pneumatic Company Ltd inks MoU to aquire majority stake in Systems & Components India Pvt Ltd

Kirloskar Pneumatic Company Ltd. (BSE: 505283, NSE: KIRLPNU), a key player in the air, refrigeration, and gas compressor industry, has entered into a memorandum of understanding (MoU) to acquire a majority stake (above 51%) in M/s. Systems & Components India Private Ltd. (S&C)

S&C has been in the industrial refrigeration business for over 30 years, with more than 700 installations across India in the dairy, pharmaceutical, chemical and fertilizer industries. Their manufacturing plant is located at Village Patgaon, near Murbad, Maharashtra.

Mr. V. Sundararajan, the current promoter and technocrat, will remain invested in the company and assist in scaling up the business.

The acquisition of this stake will empower KPCL to scale up its business and expand into adjacent segments related to its current operations.

The transaction is expected to be consummated within the next three months, subject to Due Diligence and closing adjustments.

Shares of KIRLOSKAR PNEUMATIC CO.LTD. was last trading in BSE at Rs. 1339.10 as compared to the previous close of Rs. 1290.85. The total number of shares traded during the day was 12550 in over 2131 trades.

The stock hit an intraday high of Rs. 1350.00 and intraday low of 1300.90. The net turnover during the day was Rs. 16751363.00.

Source : Equity Bulls

Keywords

KIRLOSKARPNEUMATICCO INE811A01020 StakeAcquisition MoU SystemsandComponentsIndia