SRM Contractors Limited — Board Meeting, 17-01-2025: Outcome of Board Meeting

SRM Contractors Limited has announced a board meeting where the acquisition of a 51% stake in Maccaferri Infrastructure Private Limited (MIPL) was approved. The company will invest ₹19 crore to acquire a 12.75% equity stake in four equal tranches, starting in January 2025. This strategic move aims to expand SRM's footprint in the construction sector, focusing on slope stabilization and geotechnical solutions across India. Following the acquisition, MIPL will become a subsidiary, affording SRM 51% voting rights immediately after signing necessary agreements.