Electrosteel Castings Limited has informed the Exchange about General Updates
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Electrosteel Castings has completed the acquisition of 100% shareholding in Italy-based T.I.S Services S.p.A by paying Euro 11.50 million. The company acquired 30,00,000 equity shares of Euro 1 each from T.I.S Group S.p.A. The Board had approved the deal on 28 May 2025, the Share Purchase Agreement was signed on 29 May 2025, and the payment and share transfer were completed on 30 July 2025. With the share certificates now received and transferred in Electrosteel's name, T.I.S Services S.p.A has officially become a wholly owned subsidiary.
This acquisition expands Electrosteel's international footprint into Europe. While the Euro 11.50 million deal adds a new subsidiary, investors should watch for integration updates and how T.I.S Services contributes to revenue and margins in upcoming quarterly results.