Acquisition Details

Target Entity: Buildmex-Infra Private Limited (BIPL)

Type of Deal: Acquisition of minority stake from existing shareholder

Stake/Capacity: Acquisition of 16,000 equity shares representing 16% of the equity share capital of BIPL

Deal Value: ₹60 crore (subject to closing adjustments)

Funding Source: Cash consideration

Financial Impact: The acquisition aims to increase the Company's ownership and economic interest in the Material Subsidiary and participating more significantly in its future growth opportunities. Buildmex-Infra has shown significant revenue growth:

  • 2023-24: ₹17.93 crore
  • 2024-25: ₹70.36 crore
  • 2025-26: ₹179.03 crore

Timeline: Acquisition will be effected on or before September 30, 2026

Strategic Rationale: Increasing the Company's ownership and economic interest in the Material Subsidiary and participating more significantly in its future growth opportunities. Buildmex-Infra is engaged in trading, procuring, supplying, and distributing all kinds of raw materials necessary for creation of infrastructure, buildings and construction.

Approval Status: Board approved on September 28, 2026

Related Party Status: The proposed acquisition would not fall within the ambit of a Related Party Transaction, as the existing shareholder Mr. Balavignesh Subramani is not a Related Party of the Company.

Other Corporate Update: Corporate Guarantee

Nature of Update: Providing Corporate Guarantee for subsidiary's NCD issuance

Key Operational or Strategic Points:

  • The Company will provide a Corporate Guarantee in respect of NCDs up to ₹20 crore to be issued by Lionheart Trading Private Limited (formerly known as Arisinfra Trading Private Limited)
  • LTPL is a Wholly Owned and Material Subsidiary of the Company
  • The transaction is governed by a Term Sheet executed between the parties, along with definitive transaction agreements
  • The corporate guarantee has been provided on an arm's length basis

Material Financial Impact: The Corporate Guarantee shall be provided as a contingent liability for the Company. This guarantee has been provided to the material wholly owned subsidiary which is part of the consolidated group. At this point, there is no impact of this guarantee on the Company.

Approval Status: Board approved on September 28, 2026