AIA Engineering Acquires 24% Stake in Green Shift Private Limited for Captive Power Supply

AIA Engineering Ltd has acquired or subscribed to 12,000 equity shares, valued at ₹100 each, in Green Shift Private Limited (GSPL) to secure a captive power supply for its Trichy unit. The acquisition does not constitute a related party transaction. The promoter, promoter group, and group companies of the acquiring company have no interest in GSPL. This acquisition is conducted at arm’s length.

This acquisition does not require governmental or regulatory approvals and does not have a specific timeline for completion.

Industry and Purpose

GSPL operates in the green power production industry. The primary objective of this acquisition is to secure GSPL’s electricity supply for the company’s Trichy plant.

Acquisition Details

The acquisition will be made through cash consideration. The company has acquired 12,000 equity shares in Green Shift Private Limited (GSPL) at a face value of ₹100 per share, amounting to a total cost of ₹12,00,000. This acquisition represents 24% of GSPL’s equity share capital, giving the company a significant stake in GSPL.

About Green Shift Private Limited (GSPL)

Green Shift Private Limited (GSPL) is an Indian company incorporated on December 22, 2016, under the Companies Act, 1956. GSPL specialises in green power generation with a current capacity of 2 MW, producing approximately 38 lakh units annually. The company has a turnover of around ₹55.92 lakhs per annum and plans to expand its capacity to 8-10 MW in the coming financial years.

About AIA Engineering Ltd

AIA Engineering Ltd, established in 1969, is a leading Indian multinational company. It specialises in manufacturing and supplying high-chrome mill internals for the cement and mining industries. The company offers various products, including wear parts, grinding media, liners, diaphragms, parts for vertical and ball mills, and crusher components. AIA Engineering Ltd also provides engineering services like designing, developing, and manufacturing parts for the cement, mining, and power sectors. Its key products are grinding media, liners, diaphragms, and crusher parts.

On August 21, 2024, the share price of AIA Engineering Ltd opened at ₹4,506.00, touching the day’s high of ₹4,527.85 as of 09:57 AM on NSE.

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