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AIA Engineering moves up on inking pact to acquire stake in Clean Max Meridius

AIA Engineering Ltd. | Castings/Forgings | Automobiles | BSE: 532683 | NSE: AIAENG

19 Dec 2022 Evaluate

AIA Engineering is currently trading at Rs. 2681.75, up by 14.75 points or 0.55% from its previous closing of Rs. 2667.00 on the BSE.

The scrip opened at Rs. 2666.80 and has touched a high and low of Rs. 2681.75 and Rs. 2650.60 respectively. So far 395 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2875.15 on 07-Dec-2022 and a 52 week low of Rs. 1476.00 on 07-Mar-2022.

Last one week high and low of the scrip stood at Rs. 2847.95 and Rs. 2610.00 respectively. The current market cap of the company is Rs. 25111.86 crore.

The promoters holding in the company stood at 58.47%, while Institutions and Non-Institutions held 38.75% and 2.77% respectively.

AIA Engineering has executed Share Purchase agreement with Clean Max Enviro Energy Solutions (Promoter Shareholder) and Clean Max Meridius (CMPL) to acquire/ subscribe 2,600 Equity Shares of Rs 10 of CMPL for setting up a captive Hybrid (Solar & Wind) Power Project in Gujarat.

The Company will also sign and execute Energy Supply agreement with Clean Max Meridius for supplying contracted Hybrid (Solar & Wind) Energy to the Company as a Captive User. Pursuant to the above acquisition/subscription of shares, CMPL will become an Associate of the Company.

The Company wishes to offtake the Contracted Quantity of Electricity generated from the Project as a Captive User under intrastate open access arrangement for its manufacturing units in Gujarat in view of significant financial/commercial benefits.

AIA Engineering, a certified ISO 9001 company, specialises in the design, development, manufacture, installation and servicing of high chromium wear, corrosion and abrasion resistant castings used in the cement, mining and thermal power generation industries.

AIA Engineering Share Price

3958.20 34.05 (0.87%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
AIA Engineering	3958.20
Alicon Castalloy	684.70
Nelcast	141.10
Steelcast	295.55
Synergy Green Inds.	514.80
View more..

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AIA Engineering moves up on inking pact to acquire stake in Clean Max Meridius

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