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Elgi Equipments enters into agreement with First Energy to acquire stake in First Energy TN 1

13 May 2022 Evaluate

Elgi Equipments has entered into a share purchase and shareholders agreement with First Energy for acquisition of 7.8% of paid up share capital in First Energy TN 1. The object of acquisition of 7.8% shares is to comply with the minimum shareholding requirement of 26% under the captive project rules along with other captive users.

Elgi Equipments is a holding company and an air compressor manufacturer. The company’s segments include Compressors, Automotive Equipments and Others.

Peers
Company Name CMP
Kirloskar Brothers 1629.45
Elgi Equipments 556.10
Shakti Pumps (India) 348.80
KSB 629.60
Oswal Pumps 229.30
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