Investment28 May 2025, 12:18 pm
Electrosteel Castings Ltd Approves Investment in T.I.S Services S.p.A for Up to Euro 15 Million
AI Summary
Electrosteel Castings Ltd has approved an investment of up to Euro 15 million in T.I.S Services S.p.A, a leading international designer, manufacturer, and marketer of Valve and Equipment for water mains services, sewage treatment plants, and hydroelectric power stations. The investment will be made through the purchase and acquisition of 30,00,000 shares, representing 100% shareholding of T.I.S Services S.p.A, from T.I.S Group S.p.A. The Board also noted the resignation of Dr. Ajay Kumar and the receipt of a Provisional Compensation Order from the Ministry of Coal, Government of India, in respect of compensation for Parbatpur Central Coal Mine.
Key Highlights
- Electrosteel Castings Ltd to invest up to Euro 15 million in T.I.S Services S.p.A
- Investment to be made through purchase and acquisition of 30,00,000 shares
- T.I.S Services S.p.A is a leading international designer, manufacturer, and marketer of Valve and Equipment
- Dr. Ajay Kumar resigns from the Board of Directors
- Company receives Provisional Compensation Order from the Ministry of Coal, Government of India