Board Approval for acquisition of 100% equity shares of Micron Calcite private Limited.
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Western Ministil Limited's board has approved acquiring 100% equity (10,000 shares) of Micron Calcite Private Limited (MICPL) at ₹454 per share, for a total cash consideration of ₹45.40 lakhs. MICPL, incorporated in 2008, operates in the minerals, mining, and industrial materials sector with a turnover of about ₹2.23 crore in FY25. Once completed, MICPL will become a wholly owned subsidiary of Western Ministil. The deal is classified as a material related party transaction because promoters Kalpesh Patel and Vandana Patel are also directors of MICPL, though the company states the price is at arm's length. The acquisition is expected to complete within two months and is aimed at expanding Western Ministil's business.
The deal is relatively small (₹45.40 lakhs) compared to MICPL's turnover, so financial impact is modest. However, shareholders should note this is a related party transaction with the promoters, which warrants scrutiny on fairness despite the arm's-length claim. The acquisition may support future business expansion in the minerals segment but is unlikely to move the stock materially on its own.