BCL Industries to Acquire 15.21% Stake in Pioneer Industries for INR 30.8 Crores

BCL Industries Ltd. has announced that its Board of Directors approved the acquisition of 69,70,000 equity shares of Pioneer Industries Private Ltd. on June 11, 2025. This acquisition, amounting to approximately INR 30.8 crores, will increase BCL's shareholding in Pioneer from 4.36% to 19.57%. Both companies operate in the same industry and expect to benefit from synergies in cost controls, industry knowhow, and market insights. The acquisition involves shares owned by promoters and a company controlled by the promoters of BCL, and is being done at arm's length at fair market value. Pioneer Industries is an Agro & Distillery Industry company, founded in 1997, with a focus on agri processing and a 400 KLPD ENA/Ethanol unit along with a wheat gluten unit. Its turnover for the last three financial years is 479.21 crores (2021-22), 519.21 crores (2022-23), and 530.21 crores (2023-24).