We are pleased to inform you that the Company has acquired further 14.18% stake in its subsidiary - Tirex Transmission Private Limited ("Tirex"). As of today, the Company's stake in Tirex stands at 65.18%. For further information, kindly refer the enclosed intimation.
GULFOILLUB · price
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Gulf Oil Lubricants India Limited has increased its stake in its subsidiary, Tirex Transmission Private Limited, by buying an additional 14.18% stake. With this acquisition, the company's total holding in Tirex now stands at 65.18%, up from the earlier 51%. The move strengthens Gulf Oil Lubricants' control and consolidation over its subsidiary. Further details have been provided in the enclosed intimation. This is a step-up acquisition in an existing subsidiary, not a new deal.
The increased ownership reinforces Gulf Oil Lubricants' majority control over Tirex, allowing fuller consolidation of its financials and strategic direction. For shareholders, this signals management's confidence in the subsidiary's growth prospects, though the stock reaction is likely to be modest given the small subsidiary.