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Meson Valves India Acquires Majority Stake in Milindpra Castings Private Limited

11 July 20243 mins read by Angel One
Meson Valves India acquires a majority stake in Milindpra Castings, enhancing its presence in the metal casting sector. The deal involves a ₹70,330 cash payment for 7,033 shares.
Meson Valves India Acquires Majority Stake in Milindpra Castings Private Limited
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On July 10, 2024, Meson Valves India Limited, known for its expertise in manufacturing and servicing valves across various industries, announced a Share Purchase Agreement with Milindpra Castings Private Limited.

Meson will acquire 7,033 shares of Milindpra Castings for ₹70,330, priced at ₹10 per share. Milindpra Castings, a newly established company in the metal casting and foundry sector in India, has an authorised capital of ₹5,00,000 and a paid-up capital of ₹1,00,000.

This acquisition supports Meson Valves India’s growth strategy by enhancing its capabilities and market presence in the foundry sector.

Acquisition Details

  • Related Party and Interest: The acquisition is not initially classified as a related party transaction; the promoter/promoter group is not interested.
  • Industry Focus: Metal Casting and Foundry Sector.
  • Objectives of Acquisition: Strengthening Meson Valves India’s position in the metal casting industry; strategic growth alignment.
  • Nature of Consideration: Cash

Mr Brijesh Manerikar, Chairman and Managing Director of Meson Valves India Limited, commented, “Our acquisition of Milindpra Castings Private Limited marks a significant step in Meson Valves India’s growth strategy. This move strengthens our position in the metal casting and foundry sector, allowing us to expand our capabilities and better serve our customers. We’re excited to integrate Milindpra Castings’ potential with our established market presence, driving innovation and value for our stakeholders. This acquisition underscores our commitment to growth and positions us for future success in the industry.”

About Meson Valves India Limited

Meson Valves India Limited, established in 2016, is a leading global manufacturer of high-quality valves used across industries like Defence, Marine, Industrial, Oil & Gas, and Power. They use advanced technologies to create innovative valve solutions that meet diverse industry needs. Certified with ISO 9001, Meson ensures high standards and supplies valves for critical applications, including defence projects. In FY24, they recorded a total Income of ₹63.32 crore, EBITDA of ₹14.95 crore, and PAT of ₹9.05 crore.

On July 11, 2024, Meson Valves India Ltd’s share price opened at ₹1,330.00, touching the day’s high at ₹1,357.90 as of 11:54 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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