Millworks Technologies Acquires Majority Stake in Vidwan Aeronautics

Millworks Technologies Ltd announced the acquisition of a majority stake in Vidwan Aeronautics Private Limited through the conversion of an outstanding loan into equity shares. The company will subscribe to 15,22,727 equity shares at ₹18.05 per share, totaling ₹2,74,85,222.35. This transaction will result in Millworks Technologies holding 67% of Vidwan Aeronautics' paid-up equity share capital, making it a subsidiary. Vidwan Aeronautics specializes in manufacturing high-precision Aerospace Engine components. The acquisition is expected to be completed by September 30, 2026, and is not considered a related party transaction.