KOEL extends KTSPL acquisition via KIME to Sep 2026; ₹8 Cr investment

Kirloskar Oil Engines Ltd (KOEL) announced an update regarding its wholly-owned subsidiary, Kirloskar International ME FZE (KIME), UAE. KIME will invest approximately ₹8 Crore to acquire 100% equity shares of Kirloskar Trading SA (PTY) Limited (KTSPL), Johannesburg, South Africa, a promoter group company of KOEL. The investment involves KIME purchasing 3200 equity shares for an aggregate consideration of AED 3.2 million, with approximately ₹5.5 Crore utilized for the KTSPL acquisition. Post-acquisition, KTSPL will become a wholly-owned subsidiary of KIME and a step-down subsidiary of KOEL. The completion date for this transaction has been extended from June 30, 2026, to September 30, 2026.