Kirloskar Ferrous Industries has acquired 100 percent of the paid-up equity share capital and the sole management control of Oliver Engineering (OEPL) in terms of the Order passed by the National Company Law Tribunal, New Delhi and OEPL has become wholly owned subsidiary of KFIL with effect from September 29, 2023. The company has acquired 90,00,000 equity shares of Rs 10 each (i.e. 100 percent of the paid-up share capital) aggregating to Rs 9 crore on September 29, 2023.
The acquisition will facilitate expansion of geographical reach in the castings business and cater to the growing needs of customers in Northern India.
Kirloskar Ferrous Industries (KFIL) was formed with the intention of transforming the high quality Pig Iron and Grey Iron casting industry. With a parent company that possesses a rich 130 year manufacturing and engineering legacy, KFIL has been built on a solid foundation of innovation and customer centricity.
