Triveni Engineering Acquires 36.34% Stake in Sir Shadi Lal Enterprises
By Rediff Money Desk, New Delhi Jun 21, 2024 14:58
Triveni Engineering & Industries Ltd has acquired an additional 36.34% stake in sugar firm Sir Shadi Lal Enterprises Ltd for Rs 45 crore, increasing its stake to 61.77%.

New Delhi, Jun 21 (PTI) Triveni Engineering & Industries Ltd has acquired an additional 36.34 per cent stake in sugar firm Sir Shadi Lal Enterprises Ltd for Rs 45 crore.
The company is 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.
In a regulatory filing on Thursday, Triveni said it has acquired an additional 36.34 per cent stake in Sir Shadi Lal Enterprises Ltd.
Pursuant to a share purchase agreement executed with a promoter group on June 20, 2024, Triveni said it acquired 36.34 per cent stake for an aggregate consideration of Rs 44.83 crore, i.e. at a price of Rs 235 per equity share of Sir Shadi Lal Enterprises.
Upon the completion of the transaction, Triveni Engineering's stake in Sir Shadi Lal Enterprises has increased to 61.77 per cent.
Triveni is currently 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 per cent of the voting share capital of Sir Shadi Lal Enterprises from its shareholders.
Tarun Sawhney, Vice Chairman & Managing Director of the company, said the acquisition of stake in Sir Shadi Lal Enterprises is a strategic milestone for the company.
"This will further add value to Triveni's sugar and alcohol businesses and solidify the company's position as one of the largest integrated sugar and alcohol producers in the country," he said.
With Sir Shadi Lal Enterprises' proximity to two of its largest sugar units, Sawhney said, "We believe this transaction will lead to operational and logistical synergies and improved efficiencies which will benefit both the companies and key stakeholders, including the farmer community.
Triveni Engineering currently has seven sugar mills in operation in Uttar Pradesh. The company has distilleries in Uttar Pradesh aggregating to 860 kilolitres per day.
The company is 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.
In a regulatory filing on Thursday, Triveni said it has acquired an additional 36.34 per cent stake in Sir Shadi Lal Enterprises Ltd.
Pursuant to a share purchase agreement executed with a promoter group on June 20, 2024, Triveni said it acquired 36.34 per cent stake for an aggregate consideration of Rs 44.83 crore, i.e. at a price of Rs 235 per equity share of Sir Shadi Lal Enterprises.
Upon the completion of the transaction, Triveni Engineering's stake in Sir Shadi Lal Enterprises has increased to 61.77 per cent.
Triveni is currently 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 per cent of the voting share capital of Sir Shadi Lal Enterprises from its shareholders.
Tarun Sawhney, Vice Chairman & Managing Director of the company, said the acquisition of stake in Sir Shadi Lal Enterprises is a strategic milestone for the company.
"This will further add value to Triveni's sugar and alcohol businesses and solidify the company's position as one of the largest integrated sugar and alcohol producers in the country," he said.
With Sir Shadi Lal Enterprises' proximity to two of its largest sugar units, Sawhney said, "We believe this transaction will lead to operational and logistical synergies and improved efficiencies which will benefit both the companies and key stakeholders, including the farmer community.
Triveni Engineering currently has seven sugar mills in operation in Uttar Pradesh. The company has distilleries in Uttar Pradesh aggregating to 860 kilolitres per day.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 8.21 ( -5.09)
- 50736618
- AvanceTechnologies
- 0.64 ( -5.88)
- 23261214
- Srestha Finvest
- 0.63 ( -3.08)
- 17968849
- Vakrangee
- 16.71 (+ 4.96)
- 14316214
- G G Engineering
- 1.11 ( -4.31)
- 13184477
MORE NEWS

Meta's Project Waterworth: Longest...
Meta announces 'Project Waterworth', the world's longest...
Reliance Infrastructure Q3 Net Loss Widens to...
Reliance Infrastructure Ltd reported a widening consolidated net loss of Rs 3,298.35...

Income Tax Bill 2025: Section-wise Mapping Now...
The Income Tax department has activated section-wise mapping of the Income Tax Act,...