Triveni Engineering Expands Its Stake in Sir Shadi Lal Enterprises

Triveni Engineering & Industries Ltd has acquired an additional 36.34% stake in sugar firm Sir Shadi Lal Enterprises Ltd for Rs 45 crore, bringing its total stake to 61.77%. This acquisition is expected to enhance operational efficiencies and align with Triveni's strategic objectives.

Triveni Engineering & Industries Ltd has significantly bolstered its presence in the sugar industry by acquiring an additional 36.34% stake in Sir Shadi Lal Enterprises Ltd, valued at Rs 45 crore.

This pivotal acquisition increases Triveni's total stake in the sugar firm to 61.77%, marking a strategic milestone. In a regulatory filing on Thursday, Triveni disclosed that the stake purchase was made via a share purchase agreement with a promoter group on June 20, 2024.

Tarun Sawhney, Vice Chairman & Managing Director of Triveni, highlighted the synergies anticipated from this transaction, particularly given Sir Shadi Lal Enterprises' proximity to two major sugar units. This deal, awaiting final approval from the Securities and Exchange Board of India (Sebi), is positioned to benefit both companies and their stakeholders, including the farming community.

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