Mumbai, July 6: Krishca Strapping Solutions Ltd has approved the acquisition of a 50.05% stake in Manda Stainless Pvt. Ltd. for ₹7.5 crore in cash, expanding its footprint into the stainless steel manufacturing and processing business.
The acquisition was approved by the company’s board at its meeting on Monday and is subject to the execution of definitive agreements and customary closing conditions. The transaction is expected to be completed by July 31, 2026, according to a regulatory filing.
Under the proposed transaction, Krishca will acquire 73.60 lakh equity shares, representing 50.05% of Manda Stainless’ equity capital, giving it management control of the company.
Manda Stainless has been incorporated to manufacture, process and trade stainless steel, carbon steel, alloy steel and other ferrous and non-ferrous metal products. Its proposed operations span the production of coils, sheets, strips, plates, pipes, tubes, bars and rods, along with value-added products catering to the cookware, kitchenware, engineering, infrastructure and industrial sectors.
The company also plans to undertake activities such as cold rolling, bright annealing, precision slitting, surface finishing, fabrication and customised metal processing solutions for OEMs and industrial customers.
Krishca said the acquisition is aimed at strengthening its business operations, broadening its product portfolio and creating strategic synergies by entering the stainless steel value chain. The company expects the transaction to enhance its market presence and support long-term growth as it diversifies beyond its existing strapping solutions business.