Garg Furnace Ltd — Important, 21-08-2025: Company Update

Garg Furnace Limited has completed the acquisition of a 51.22% stake in Vaneera Industries Limited, making it a subsidiary. Vaneera Industries operates in the steel industry, focusing on furnaces, foundries, various metal castings, and rolling mills, alongside manufacturing steel products. As of March 31, 2024, Vaneera's revenue from operations was 341.08 Cr. The acquisition, costing 36.27 Cr in cash, is a strategic step to expand Garg Furnace's business operations and market footprint, creating synergy and supporting Vaneera's growth. This transaction, involving common promoters and directors, was conducted at arm's length.