Noida : Triveni Engineering & Industries , a major integrated sugar producer, a leading provider in engineered-to-order high-speed gears & gearboxes, and water and wastewater management solutions, has announced the acquisition of an additional 36.34% stake in Sir Shadi Lal Enterprises Limited (SSEL).

This acquisition was carried out through a Share Purchase Agreement signed with Mr. Rajat Lal, Mr. Rahul Lal, and Ms. Poonam Lal (the Second Promoter Group) on June 20, 2024. The transaction was completed for a total consideration of ₹44.83 crore, equating to ₹235 per equity share of SSEL. Following this acquisition, Triveni’s ownership in SSEL now stands at 61.77%, making SSEL a subsidiary of Triveni.

Triveni is currently awaiting approval from the Securities and Exchange Board of India (SEBI) to proceed with an Open Offer. This offer aims to acquire up to 13,65,000 fully paid-up equity shares of face value ₹10 each, representing 26% of the Voting Share Capital of Sir Shadi Lal Enterprises from its shareholders.

Mr. Tarun Sawhney, Vice Chairman & Managing Director of Triveni Engineering and Industries Limited, emphasized that the acquisition of stake in Sir Shadi Lal Enterprises represents a significant strategic achievement for the company. He highlighted that this move will enhance the value of Triveni’s Sugar & Alcohol businesses, reinforcing its position as a major integrated producer in these sectors within the country.

Mr. Sawhney pointed out the geographical advantage of SSEL’s proximity to two of Triveni’s largest sugar units, foreseeing operational and logistical synergies. These synergies are expected to bring about improved efficiencies that will benefit both companies involved, as well as key stakeholders, including the farmer community.


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