RHI MAGNESITA INDIA LTD has informed the Exchange about updates on Acquisition
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RHI Magnesita India has invested Rs. 2.5 crore in its wholly owned subsidiary, Intermetal Engineers (India) Private Limited, by subscribing to 150 equity shares at a premium of Rs. 1,66,375 per share through a rights issue. Intermetal manufactures slide gate mechanics and related components, with a turnover of Rs. 611.76 lakhs in FY25. The proceeds will be used for general corporate purposes and to partially fund the proposed acquisition of Ashwath Technologies Private Limited. The transaction is a related party deal conducted at arm's length, and Intermetal will continue to remain a wholly owned subsidiary with no change in control.
This is a routine internal capital infusion into a wholly owned subsidiary and is unlikely to materially impact shareholders. However, the eventual acquisition of Ashwath Technologies could be strategically significant if it expands RHI Magnesita's product portfolio or market reach.