Acquisitions31 Aug 2026, 05:31 pm
Millworks Technologies Acquires Vidwan Aeronautics via Loan Conversion
AI Summary
Millworks Technologies Ltd has announced the acquisition of a majority stake in Vidwan Aeronautics Private Limited by converting an outstanding loan into equity shares. The company will subscribe to 15,22,727 equity shares at ₹18.05 each, totaling ₹2,74,85,222.35. This transaction will result in Vidwan Aeronautics becoming a subsidiary of Millworks Technologies, holding 67% of its paid-up equity share capital. Vidwan Aeronautics is involved 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.
Key Highlights
- Millworks Technologies acquires majority stake in Vidwan Aeronautics.
- Acquisition is through conversion of ₹2.74 Cr outstanding loan into equity.
- Vidwan Aeronautics will become a subsidiary with 67% shareholding.
- Target company manufactures Aerospace Engine components.
- No cash outflow involved; acquisition expected by Sep 30, 2026.
Price Impact
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