Acquisitions20 Mar 2026, 08:04 pm
Setco Automotive Ltd Acquires Lava Cast Private Limited for ₹1/-
AI Summary
Setco Automotive Ltd has announced the outcome of its Board Meeting held on Friday, March 20, 2026. The company has approved the purchase of 1,34,60,000 equity shares of Lava Cast Private Limited (LCPL) from Setco Auto Systems Private Limited (SASPL) for a lump sum consideration of ₹1/-. This acquisition has resulted in LCPL becoming a wholly owned subsidiary of Setco Automotive Ltd. The company has also approved the purchase of 1,40,000 Non-Convertible Debentures (NCDs) of LCPL from SASPL for a lump sum consideration of ₹1/-. Furthermore, Setco Automotive Ltd has agreed to assign an unsecured loan of ₹97.56 Crores availed by LCPL from SASPL for a lump sum consideration of ₹1/-.
Key Highlights
- Setco Automotive Ltd acquires Lava Cast Private Limited for ₹1/-
- Lava Cast Private Limited becomes a wholly owned subsidiary of Setco Automotive Ltd
- Purchase of 1,40,000 Non-Convertible Debentures (NCDs) of LCPL from SASPL for ₹1/-
- Assignment of an unsecured loan of ₹97.56 Crores availed by LCPL from SASPL for ₹1/-
- Acquisition forms part of the group-level financial and structural restructuring