Announced Tue, 7 Jul · 24:40 IST
SETL to invest Rs 70 Cr in Japan's GL Hakko for 19.19% stake
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SETL · price
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₹267.70
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₹267.70
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AI summary
Standard Engineering Technology (SETL) will invest Rs 70 crore for a 19.19% stake in Japan's GL Hakko, a glass-lined equipment maker, using internal accruals. SETL can raise its stake to 51.07% for an extra Rs 116.7 crore within three years. Proceeds will fund heat exchangers, semiconductor equipment, and a clean room. AGI Group is already SETL's second-largest shareholder. Target: become India's largest glass-lined equipment maker by FY27.
Likely market impact
Strategic stake in Japan's GL Hakko gives SETL tech access and a path to global leadership in glass-lined equipment. Funded internally, no debt.