Pursuant to the Provisions of Section 188 of the Companies Act, 2013 r.w. applicable rules of the Companies (Meetings of Board and its Powers) Rules, 2014 and, the aforesaid acquisition ....
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Hind Aluminium Industries Ltd has approved the acquisition of the aluminium business of Nirav Commercials Limited, which operates under the brand name 'Elesar Focchi' and manufactures aluminium grills, doors and windows. The acquisition will be done as a going concern through a Slump Sale (Business Transfer Agreement) for a cash consideration of Rs. 1.25 Crores. The target business reported turnover of Rs. 9.72 Crores in FY25, Rs. 10.52 Crores in FY24, and Rs. 9.62 Crores in FY23. The transaction qualifies as a material related party transaction since the seller belongs to the promoter/promoter group, and is being done on an arm's length basis. The deal is expected to complete by March 31, 2026, and no government or regulatory approvals are required.
This acquisition aligns with Hind Aluminium's growth strategy to expand its product portfolio in the aluminium doors, windows and grills segment, though the small deal size (Rs. 1.25 Crores) limits its material financial impact. The related party nature of the transaction may draw scrutiny from minority shareholders, but the arm's length pricing provides some comfort.