Man Industries (India) Limited has informed the Exchange regarding Outcome of Board Meeting held on May 21, 2026.
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Man Industries (India) Limited has completed the acquisition of 100% equity stake in National Pipe Company Limited (NPC), Kingdom of Saudi Arabia, through its wholly owned subsidiary Man International Steel Industries Company (MISIC). The total acquisition cost is approximately USD 102 Million (~INR 1,000 Crores). NPC is an established API manufacturer of HSAW and LSAW pipes with an installed manufacturing capacity of approximately 430,000 MT per annum. The company serves prestigious clients including Saudi Aramco, Saudi Water Authority, KOC (Kuwait), Qatar Petroleum, and global EPC contractors like McDermott, L&T, and SAIPEM. NPC is described as profit-making, debt-free, and financially stable with a healthy order book. The acquisition is in line with Man Industries' international expansion strategy and is expected to strengthen its global presence in the pipe manufacturing industry.
This acquisition provides Man Industries with immediate access to the Saudi Arabian pipe manufacturing market, major energy and infrastructure projects, and approximately 430,000 MT of additional annual capacity. The deal is positive for shareholders as it diversifies revenue geographically, adds blue-chip customers, and enhances the company's international operations without taking on any debt of the acquired entity.