Maithan Alloys Limited has announced the acquisition of 100% equity shares of Eloise Builders & Constructions Private Limited through a share purchase agreement. The deal was finalized on February 5, 2025, marking a significant step for the company into the real estate and construction sector.
Eloise Builders, a private entity in the real estate industry, is engaged in landholding activities around NCR Delhi. The company’s financial standing shows a turnover of Rs. Nil for the last three years, with a net worth of Rs. -0.01 Crore as of March 31, 2024. The acquisition is valued at Rs. 73.00 Crore, and Maithan Alloys will be required to repay a loan liability of Rs. 41.55 Crore upon completion of the transaction.
This move signals Maithan Alloys’ diversification into the real estate and construction business, offering new growth opportunities. The acquisition process is expected to be completed by March 31, 2025.
In the meantime, Maithan Alloys shares opened at ₹980.00, reaching a high of ₹990.00 and a low of ₹974.15 today. Over the past year, the stock has fluctuated between a 52-week high of ₹1,359.00 and a 52-week low of ₹901.70. As of 2:26 PM. the shares were trading 0.15% lower at Rs 977.85.
