GMM Pfaudler proposes to acquire GMM International S.à.r.l. from Pfaudler International and Millars Concrete Technologies Private Limited

The proposed acquisition by GMM Pfaudler Limited (“Company”) of balance 46% shareholding of its existing overseas subsidiary, GMM International S.à.r.l. from Pfaudler International S.à.r.l. (a promoter group company and part of the private equity firm Deutsche Beteiligungs AG Fund VI) and Millars Concrete Technologies Private Limited (a promoter group company and part of the Patel family) which would result in the Company consolidating 100% of the Pfaudler International business (“Proposed Acquisition”).

GMM Pfaudler proposes to acquire GMM International S.à.r.l. from Pfaudler International  and Millars Concrete Technologies Private Limited
  • The Company has completed the payment of INR 149,46,61,094 to Pfaudler International S.à.r.l.
  • The Company has completed the payment of INR 23,91,05,456 to Millars Concrete Technologies Private Limited.
  • The Board of Directors of the Company have on September 29, 2022, approved the allotment of 11,04,724 fully paid-up equity shares of the Company having face value of INR 2 each, at a price of INR 1,542.43 each to Millars Concrete Technologies Private Limited.

Consequent to the aforesaid allotment, the issued, subscribed, and paid-up share capital of the Company has increased from 4,38,52,500 Equity Shares of INR 2 each aggregating to INR 8,77,05,000 to 4,49,57,224 Equity Shares of INR 2 each aggregating to INR 8,99,14,448 .