corrigendum to the outcome of Board meeting dated 12th March 2026/Aquisition
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Western Ministil Limited has issued a corrigendum to its earlier March 12, 2026 board meeting outcome, correcting details of its acquisition of Micron Calcite Private Limited. The company is acquiring 10,000 equity shares (100% of paid-up capital) at ₹454 per share, for a total cash consideration of ₹45.40 lakhs, based on a valuation report. The correction changes payment terms from a simple cash payment to 'as per the valuation report' and clarifies the face value of shares (₹10 each). Micron Calcite, which had a turnover of about ₹2.23 crore in FY25, will become a Wholly Owned Subsidiary upon completion, expected within 2 months. The acquisition is a related party transaction (common director Mr. Kalpesh Naginbhai Patel) done at arm's length price, subject to shareholder approval in an upcoming general meeting.
Small-ticket diversification move (~₹45 lakhs) into industrial machinery trading, packaging, and chemicals — outside Western Ministil's current line of business. Likely neutral to mildly positive for shareholders, as the scale is modest relative to the target's turnover, but it is a related party deal that still needs shareholder sign-off.