Tipco Engineering to acquire 50% stake in Ranks Precision for ₹1.31 Cr

Tipco Engineering India Limited announced its Board of Directors has approved the acquisition of 10,000 equity shares, representing 50% of the total paid-up share capital, in Ranks Precision Private Limited for a cash consideration of ₹1,31,62,900. This acquisition will make Ranks Precision an associate of Tipco Engineering. The company also approved acquiring a 50% partnership interest in Hanutech Engineering Solutions. The acquisition of Ranks Precision aims to expand manufacturing capabilities, achieve supply chain synergies, and enhance operational efficiency in automotive and heavy engineering components.