Pursuant to Regulation 30 of SEBI (LODR) regulations, 2015 we hereby inform that the Board has considered and approved the investment in Shivam Pipe Industries (Firm) registered under ....
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Manbro Industries' board, meeting on 10 July 2025 in Guwahati, approved investing ₹25 crore in cash to acquire a 51% partnership stake in Shivam Pipe Industries, a partnership firm established in 2009. Shivam manufactures MS pipes, galvanized pipes, steel tubes, and electric steel poles under the 'XTECH PIPES' brand, and had a turnover of about ₹60.2 crore in FY24, sharply up from ₹7.1 crore in FY23. Once the deal closes, Shivam will become a subsidiary of Manbro, marking the company's entry into the steel products sector. The transaction is flagged as a related-party deal, with the promoter group holding an interest in the target. Completion is expected within 30 days, subject to regulatory approvals (none specified as required).
For shareholders, this is a sizable diversification move that could add meaningful steel-business revenue to Manbro's books, but the related-party tag and sharp past turnover jump at the target warrant closer scrutiny. The stock could see short-term positive sentiment on the expansion narrative, though execution risk remains given the target's recent rapid growth.