Acquisitions1 Aug 2025, 07:23 pm
Rhi Magnesita India Ltd Completes Acquisition of Ashwath Technologies Private Limited
AI Summary
Rhi Magnesita India Ltd has completed the acquisition of 100% shareholding of Ashwath Technologies Private Limited by its wholly owned subsidiary, Intermetal Engineers (India) Private Limited. The acquisition was done for a total consideration of INR 14,11,88,690/- (Indian Rupees Fourteen Crore Eleven Lakh Eighty Eight Thousand Six Hundred and Ninety Only), upon adjustment of consideration in accordance with the terms of the Share Purchase Agreement (SPA). Ashwath has become the wholly owned subsidiary of Intermetal and ultimately, the step-down subsidiary of Rhi Magnesita India Ltd.
Key Highlights
- Rhi Magnesita India Ltd has completed the acquisition of Ashwath Technologies Private Limited
- The acquisition was done for a total consideration of INR 14,11,88,690/-
- Ashwath has become the wholly owned subsidiary of Intermetal Engineers (India) Private Limited
- Intermetal is a wholly owned subsidiary of Rhi Magnesita India Ltd
- This acquisition strengthens Rhi Magnesita India Ltd's position in the market