Kranti Industries Limited (BSE:542459) signed memorandum of understanding to acquire a 55% stake in Preciso Metall Private Limited from Vivek Deshmukh on March 1, 2023. As on March 22, 2023, Kranti Industries Limited (BSE:542459) entered into Share Purchase Agreement to acquire 55% stake in Preciso Metall Private Limited from Vivek Deshmukh for INR 9.97 million. Purchase of 3,198,205 Equity shares of PMPL in a phase manner for lump sum consideration. The consideration to be paid in cash. Kranti Industries will acquire in two tranches, including 18.92% will be acquired on and before March 31, 2023 and 36.08% will be acquired in within 30 days from the date of completion of First Tranche. Sachin Vora and Sumit Vora will be appointed in Preciso Metal board. For the year 2021-22, Preciso Metall has a turnover of INR 56.496 million.

Kranti Industries Limited (BSE:542459) completed the acquisition of a 55% stake in Preciso Metall Private Limited from Vivek Deshmukh on April 11, 2023.