Tipco Engineering India has secured its Board’s approval to acquire stake in Ranks Precision and Hanutech Engineering Solutions. The board has approved the acquisition of 10,000 equity shares, representing 50% of equity share capital, of Ranks Precision for a consideration of around Rs 1.32 crore. Ranks Precision is engaged in the business of manufacturing, fabrication, processing, assembly, trading, import and export of automotive components, undercarriage components, engine components, spare parts, heavy construction equipment and allied engineering products. Upon completion of this acquisition, Ranks Precision will become an Associate of the company. The acquisition is aimed at expanding the manufacturing capabilities of the company in automotive, engine, and undercarriage components, achieve supply chain synergies, and enhance overall operational efficiency and growth.
Additionally, the board has approved acquisition of 50% partnership interest in Hanutech Engineering Solutions (Hanutech) for a consideration of around Rs 1.67 crore. Hanutech is engaged in the design, manufacturing, machining, and distribution of industrial pumps, valving solutions, and fluid flow engineering equipment serving various industrial and infrastructure applications. Upon completion of acquisition of 50% partnership interest, the company would become a partner in Hanutech. The acquisition is aimed at expanding the company’s manufacturing capabilities in industrial pumps, valves, and fluid engineering solutions, leverage business synergies, and enhance overall operational footprint.
Tipco Engineering India is engaged in manufacturing and supplying a comprehensive range of plants and machinery.
