Kirloskar Pneumatic Company has entered into a Memorandum of Understanding with System and Components India on 21 June 2024 for acquisition of 54.55% equity stake in System and Components India.
This acquisition is in the similar line of business i.e. Refrigeration. The acquisition of this stake will empower the Company to scale up its business and expand into adjacent segments related to its current
operations.
The aggregate onsideration of around Rs. 15 crore payable in cash in one or more tranches.