Maithan Alloys Limited — Important, 06-02-2025: Agreements

Maithan Alloys has confirmed the acquisition of 100% shareholding in Eloise Builders & Constructions Private Limited for a cash consideration of Rs. 73.00 crore. This strategic move, finalized through an agreement, enables the company to venture into the real estate and construction sector, which aligns with its growth objectives. Eloise Builders, although currently without turnover, holds assets in the NCR Delhi area and has a loan liability of Rs. 41.55 crore that Maithan Alloys will assume post-acquisition. This transaction is set to complete by March 31, 2025, presenting potential growth opportunities in the real estate market. Investors may find this acquisition noteworthy as it diversifies Maithan's business into a new sector, supporting a positive outlook for future growth.