Acquisitions30 Jul 2024, 09:45 pm
SAT Industries Acquires 51% Stake in M.R. Organisation Limited for Rs. 54.63 Crore
AI Summary
SAT Industries Ltd. has successfully completed the acquisition of the first tranche, which is 51% of the issued and paid-up share capital of M.R. Organisation Limited, a tech-based last-mile utility services provider. The total cash consideration for this acquisition is Rs. 54,63,26,712.00. This strategic acquisition aligns SAT Industries' core strategy of combining cash flow generating businesses with high growth investments.
Key Highlights
- SAT Industries has acquired 51% stake in M.R. Organisation Limited for Rs. 54.63 crore.
- M.R. Organisation Limited is a tech-based last-mile utility services provider with a turnover of Rs. 55.89 crore.
- The acquisition is a cash consideration and does not involve any share swap or other forms.
- The acquisition has been completed within 7 days of signing the Shareholders’ Agreement.
- M.R. Organisation Limited has now become a Material Subsidiary of SAT Industries.