Meson Valves India Limited ((BSE CODE: 543982), globally recognized as The Valve Specialists, specializes in assembling, manufacturing, purchasing, distributing, and servicing a wide range of products across various industries, has announced that it has entered into a Share Purchase Agreement with Milindpra Castings Private Limited, a newly incorporated company in the metal casting and foundry industry.
Under the terms of the agreement, the company will acquire 7,033 shares of Milindpra Castings for a total consideration of Rs. 70,330, priced at Rs. 10 per share.
The company will acquire a significant stake in Milindpra Castings Private Limited, which has an authorized capital of Rs. 5,00,000 and a paid-up capital of Rs. 1,00,000. As Milindpra Castings is a newly incorporated entity, no prior turnover figures are applicable. The acquired company operates in the metal casting and foundry sector in India.
This strategic acquisition aligns with Meson Valves India's growth strategy and is expected to strengthen its position in the metal casting industry. The move will allow Meson Valves India to expand its capabilities and market presence in the foundry sector.
Mr. Brijesh Manerikar, Chairman & Managing Director of Meson Valves India Limited, comments on recent acquisition "Our acquisition of Milindpra Castings Private Limited marks a significant step in Meson Valves India's growth strategy. This move strengthens our position in the metal casting and foundry sector, allowing us to expand our capabilities and better serve our customers. We're excited to integrate Milindpra Castings' potential with our established market presence, driving innovation and value for our stakeholders. This acquisition underscores our commitment to growth and positions us for future success in the industry.
Shares of Meson Valves India Limited was last trading in BSE at Rs. 1309.70 as compared to the previous close of Rs. 1337.10. The total number of shares traded during the day was 17600 in over 77 trades.
The stock hit an intraday high of Rs. 1328.00 and intraday low of 1270.25. The net turnover during the day was Rs. 22559120.00. |
