Mafatlal Industries Increases Stake in Pieflowtech to 80%

Mafatlal Industries Limited has approved the acquisition of 2,000,000 equity shares, representing a 20% stake, in its subsidiary Pieflowtech Solutions Private Limited (PSPL) from an existing shareholder. This acquisition, for a cash consideration of ₹25,00,000/-, will increase Mafatlal Industries' shareholding in PSPL from 60% to 80%. The transaction is considered a related party transaction and is being conducted on an arm's length basis, based on a valuation report. PSPL, incorporated in October 2024, is involved in Information Technology (IT) Software Services and Consultancy Services. The acquisition is part of Mafatlal Industries' strategy to strengthen its Digital Infrastructure segment and is expected to be completed within thirty days.