Pursuant to Reg 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are glad to inform that the Company has acquired additional 7,31,461 equity shares i.e. ....
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Kranti Industries has acquired an additional 7,31,461 equity shares (4.84% stake) in its subsidiary Preciso Metall Private Limited (PMPL) through a Right Issue offer. This increases its total holding in PMPL from 55% to 59.84% (39,29,666 shares). The acquisition was done for a cash consideration of ₹73.14 lakhs at ₹10 per share. PMPL is engaged in shell moulding, casting and allied activities with a turnover of ₹713.44 lakhs in FY24, showing recovery from ₹235.12 lakhs in FY23. The transaction is a related party deal (common directors) but conducted at arm's length pricing.
This is a small, incremental acquisition that deepens Kranti Industries' control over an existing subsidiary without changing its status. The financial impact is minimal (₹73 lakhs outflow), and shareholders should note PMPL's inconsistent turnover history. No major stock price catalyst expected from this move.