Ellenbarrie Industrial Gases Limited has informed the Exchange about Acquisition of Truair Industrial Gases.
ELLEN · price
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Ellenbarrie Industrial Gases' board has approved the acquisition of Truair Industrial Gases, a Bengaluru-based partnership firm in the industrial and medical gases business. The deal is structured as a slump sale on a cash basis for a total consideration of ₹5.40 crore, giving Ellenbarrie 100% control of the target. The acquisition is in the same line of business as Ellenbarrie's existing operations and is aimed at growth and expansion. No regulatory approvals are required, and the deal is expected to close within 45 days of signing. Truair runs a cylinder filling station and trades in industrial gases, operating from an ~89,782 sq. ft. leased property in Peenya Industrial Area, Bengaluru.
This is a small, bolt-on acquisition (₹5.40 crore) in Ellenbarrie's core business of industrial gases, likely to strengthen its presence in Bengaluru. It is not a related-party transaction and requires no regulatory approvals, so execution risk is low. The size is modest relative to Ellenbarrie's scale, so material upside to earnings or stock price may be limited in the near term.