The National Company Law Tribunal (NCLT) has approved Tega Industries’ Resolution Plan for the acquisition of McNally Sayaji Engineering (MSEL), as per the order dated February 24, 2023. This acquisition by Tega represents a decisive initiative towards long-term portfolio (products and services) expansion. This wider portfolio is expected to enhance the Company’s sustainability. The acquisition is expected to be completed over the next two months. The financing for the acquisition will be through an optimal mix of internal resources and debt.
Tega has a strong presence in the global mining and minerals sector and has been growing sustainably. The Company is seeking to expand its product offerings to grow its business globally and in India. This acquisition is expected to enhance value for the Company and its shareholders, marked by revenue growth and margin expansion opportunities in medium term.
MSEL, known for manufacture and sales of crushing, screening, grinding, material handling, and mineral processing equipment, is a prominent ‘value player’ in the competitive Indian market. Tega’s market leadership and its marquee customer relationships are expected to increase MSEL’s global footprint.
Tega Industries (Tega) is a global leader in designing and manufacturing ‘critical-to-operate’ consumables for the mining, mineral processing, and material handling industries.
| Company Name | CMP |
|---|---|
| BHEL | 287.85 |
| Thermax | 3866.20 |
| Kirloskar Oil Eng | 1482.70 |
| Skipper | 380.15 |
| GMM Pfaudler | 916.15 |
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