STOCKWATCH

SRM Contractors to Acquire 51% Stake in Maccaferri Infrastructure for INR 19 Crores

SRM Contractors Ltd. has approved the acquisition of a 51% stake in Maccaferri Infrastructure Private Limited (MIPL), an Indian company and a wholly-owned subsidiary of Officine Maccaferri S.p.A., Milan, Italy. The acquisition will be executed in four equal tranches starting from January 2025, with the first tranche of INR 19 crores to acquire a 12.75% equity stake in MIPL. MIPL will become a subsidiary of SRM Contractors upon signing of the SPA and SHA, with SRM having 51% of the voting rights in the shareholder’s meetings immediately. The acquisition will assist SRM to enter unexplored territories PAN India and to expand its business.

• SRM Contractors to acquire 51% stake in Maccaferri Infrastructure
• Acquisition to be executed in four equal tranches
• First tranche of INR 19 crores to acquire 12.75% stake
• MIPL to become a subsidiary of SRM Contractors
• Acquisition will assist SRM to expand its business