Carborundum Universal Limited — JV/Acquisition, 11-12-2024: Acquisition

Carborundum Universal Limited has completed the acquisition of an additional 10,528 equity shares in PLUSS Advanced Technologies Limited, increasing its total stake to 74.06%. This latest acquisition, valued at Rs. 3.29 crores, aligns with the previously established Share Subscription and Shareholders’ Agreement, aimed at enhancing control over PLUSS, a firm specializing in thermal energy storage materials and specialty polymeric additives. The strategic purpose behind this move includes gaining operational efficiencies and strengthening market positioning within the specialty materials industry, which reported a turnover of Rs. 52.36 crores for the last fiscal year.