Acquisitions23 Jan 2024, 07:00 pm
Vikas Ecotech Ltd acquires 100% equity of Shamli Steel at INR 1600 Mn in share swap deal
AI Summary
Vikas Ecotech Limited has acquired 100% equity of M/s Shamli Steel Private Limited for INR 1600 million in a share swap deal. The acquisition is expected to contribute INR 9000 million to the company's gross revenue and generate INR 150-200 million of gross profits per annum. The company has also provided a working capital assistance of INR 150 million to Shamli Steels and will induce more cash for the working capital requirements.,
Key Highlights
- Acquisition of Shamli Steel
- Increase in gross revenue and profits
- Expansion into infrastructure development related products
- Enhancement of power supply connection and private electric sub station