Triveni Engineering Acquires 36.34% Stake in Sir Shadi Lal Enterprises for INR 44.83 Crore

Triveni Engineering & Industries Ltd., one of the largest integrated sugar producers in the country, a leading player in engineered-to-order high speed gears & gearboxes and water and wastewater management business, announced acquiring additional 36.34% stake in Sir Shadi Lal Enterprises Limited (SSEL) for an aggregate consideration of INR 44.83 crore. The acquisition increases Triveni’s stake in SSEL to 61.77%, making SSEL a subsidiary of the Company. Triveni is awaiting approval from the Securities and Exchange Board of India (SEBI) for an Open offer for acquisition of up to 13,65,000 fully paid-up equity shares of face value of Rs. 10 each, representing 26% of the Voting Share Capital of Sir Shadi Lal Enterprises from its Shareholders. The acquisition is expected to add value to Triveni’s Sugar & Alcohol businesses, solidify its position as one of the largest integrated sugar and alcohol producers in the country, and lead to operational and logistical synergies, improved efficiencies, and benefits for the farmer community.