The Board of Directors meeting commenced at 03:30 PM and concluded at 04:30 PM at the company's registered office in Vadodara, Gujarat.
The Board approved the proposal to invest by acquiring a 40% stake in M/s. Quebec Petroleum Resources Limited, a Vadodara-based company engaged in Lubricants Manufacturing & Petroleum Products Distribution. Quebec Petroleum has been present in the Indian market for more than twenty years.
Target Entity Details
- Name: Quebec Petroleum Resources Limited
- Incorporation Date: 21st November 2005
- Business: Manufacturing and marketing of oils and lubricants across automotive, industrial, and specialty segments, plus distribution of petroleum products
- Financials as of 31st March 2025:
- Authorised Share Capital: ₹6,00,00,000
- Paid Up Share Capital: ₹5,60,47,310
- Turnover: ₹184.73 Crores
Historical Turnover
- FY 2024-25: ₹184.73 Crores
- FY 2023-24: ₹246.59 Crores
- FY 2022-23: ₹249.20 Crores
Transaction Details
- The company will enter into a Share Purchase Agreement (SPA) for the acquisition of 40% stake with the shareholder of Quebec Petroleum Resources Limited
- The acquisition falls within the ambit of a Related Party Transaction
- Mr. Aniruddh Gandhi, Non-Executive Independent Director and Substantial Beneficial Owner of Maximus International, holds 40% stake in Quebec Petroleum and is a related party
- The transaction is being undertaken on an arm's length basis
- Consideration will be in cash
- Completion is subject to fulfilment of conditions in the SPA and other transaction documents/agreements
Strategic Rationale
The acquisition has been undertaken as a strategic investment for the Indian domestic market in a similar line of business with an objective of long-term value creation.
Regulatory Approvals
No governmental or regulatory approvals are required for this acquisition.
Additional Information
#MaximusInternational #QuebecPetroleum #SEBIRegulation30 #M&A #RelatedPartyTransaction