Pursuant to SEBI (LODR) regulations, 2015 we hereby inform you that the Board has considered and approved the investment in K D Ecosystem (Firm) registered under the I.P. Act, 1932 and ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Manbro Industries' Board has approved an investment of ₹7.5 crore to acquire a 26% stake in K D Ecosystem, a partnership firm registered under the Indian Partnership Act, 1932. K D Ecosystem operates the first registered vehicle scrappage facility in Eastern India, based in Guwahati, Assam, and is engaged in collecting, dismantling, and disposing of end-of-life vehicles. The firm was established in September 2021 and reported a turnover of about ₹20.98 crore for FY23-24. The deal is a related party transaction, will be funded entirely in cash (in one or more tranches), and is expected to close within 30 days. On completion, K D Ecosystem will become an associate company of Manbro Industries.
For shareholders, this marks Manbro's entry into the metal and non-metal recycling (vehicle scrappage) space, which is outside its existing line of business, so it signals diversification. The relatively small investment size (₹7.5 crore for a 26% associate stake) means limited near-term impact on the stock, but watch for execution and synergy updates.