Zuari Industries Ltd has acquired 1,28,10,900 equity shares of Texmaco Infrastructure & Holdings Ltd for a total consideration of approximately ₹147.96 crore, inclusive of brokerage charges, Securities Transaction Tax, stamp duty and other applicable taxes and charges.
The acquisition was made from Zuari International Ltd, a wholly owned subsidiary of Zuari Industries, through a block deal executed in a single tranche on the National Stock Exchange of India on September 23, the company said in a regulatory filing.
Prior to the acquisition, Zuari Industries held 20.78% of the equity share capital of Texmaco Infrastructure & Holdings. Following the acquisition, its shareholding has increased to 30.83%.
The acquisition was undertaken pursuant to the approval of Zuari Industries’ board at its meeting held on August 13 for acquisition of equity shares of Texmaco Infrastructure & Holdings aggregating up to ₹150 crore, in one or more tranches.
The company said the acquisition has been undertaken for the purpose of consolidating the investment portfolio at the listed holding company level.
The transaction constitutes a related-party transaction as the shares were acquired from Zuari International, a wholly owned subsidiary of Zuari Industries. The company said the provisions of related-party transactions under Regulation 23 of the SEBI Listing Regulations are not applicable to the transaction as it is between the company and its wholly owned subsidiary.
Zuari Industries and Zuari International, along with certain other persons/entities, form part of the promoter and promoter group of Texmaco Infrastructure & Holdings. The promoter and promoter group collectively hold 66.55% of the paid-up equity share capital of Texmaco Infrastructure & Holdings.
The aggregate shareholding of the promoter and promoter group in Texmaco Infrastructure & Holdings remains unchanged at 66.55% following the acquisition.
Texmaco Infrastructure & Holdings operates in real estate, mini hydel power and investments. Its standalone turnover for the financial year ended March 31, 2026 was ₹11.45 crore.
Zuari Industries Ltd shares closed 1.98% higher at ₹280.55 on Wednesday, September 23. The stock gained ₹5.45 during the session.
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