Kritika Wires Limited has informed the Exchange about the acquisition of 18.89% shareholding, comprising of 15,00,000 (Fifteen Lakh) equity shares of Rs. 10/- each, pursuant to a preferential issue made by M/s. HM Power and Cables Private Limited.
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Kritika Wires Limited has informed the stock exchange that it is acquiring an 18.89% shareholding in M/s. HM Power and Cables Private Limited. The acquisition involves 15,00,000 (Fifteen Lakh) equity shares with a face value of Rs. 10 each, allotted through a preferential issue by HM Power and Cables. This is a strategic investment by Kritika Wires into a private company in the power and cables space. The stake size suggests a meaningful, possibly long-term, partnership rather than a controlling acquisition.
This is a strategic investment rather than a full takeover, so it should not trigger SEBI's mandatory open offer (which kicks in at 25%). Shareholders should watch for further details on the pricing of the preferential issue and how this aligns with Kritika Wires' growth plans in the cables/power sector.