Electrosteel Castings Limited, a leading Indian manufacturer of ductile iron pipes and fittings, has officially completed the acquisition of T.I.S Services S.p.A, an Italy-based company, for a total consideration of €11.50 million.
In a regulatory filing, Electrosteel confirmed the successful remittance of funds for the purchase of 30,00,000 equity shares of €1 each, representing 100% of T.I.S Services S.p.A’s shareholding. The transaction follows earlier announcements made by the company on May 28 and May 29, 2025, wherein the board had approved the deal and signed a Share Purchase Agreement (SPA) with T.I.S Group S.p.A, the holding entity.
With the completion of the transaction and receipt of the share certificates duly transferred in Electrosteel’s name, T.I.S Services S.p.A has now become a wholly owned subsidiary of the Indian company.
The acquisition is part of Electrosteel’s strategic global expansion initiative, aimed at strengthening its footprint in Europe and enhancing its technical capabilities in infrastructure services.