Acquisitions28 Jan 2025, 05:13 pm
Dee Development Engineers Acquires 70% Stake in Molsieve Designs Limited for INR 6.59 Cr
AI Summary
Dee Development Engineers Ltd has entered into a Share Purchase Agreement with Molsieve Designs Limited to acquire 70% equity shares. The transaction is not a related party transaction and does not require any governmental or regulatory approvals. The cost of acquisition is INR 8.00 Cr, with Dee Development Engineers investing INR 6.59 Cr for 35,000 shares. Molsieve Designs Limited, incorporated in 2002, is a Public Company in India with a turnover of Rs. 4.86 Crores in FY 2023-24. The company's main line of business includes manufacturing various plants like Hydrogen Gas Generating Plants, Ammonia Cracking Units, and Hydrogen Purification Drying Systems.
Key Highlights
- Dee Development Engineers Ltd acquires 70% equity shares of Molsieve Designs Limited for INR 6.59 Cr.
- Molsieve Designs Limited is a Public Company incorporated in India in 2002 with a turnover of Rs. 4.86 Crores in FY 2023-24.
- The acquisition includes the capability to manufacture ammonia crackers and piping solutions.
- The transaction does not require any governmental or regulatory approvals.
- Molsieve Designs Limited's main line of business includes manufacturing various plants like Hydrogen Gas Generating Plants and Ammonia Cracking Units.