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VMPL
Mumbai (Maharashtra) [India], March 31: Shera Energy Limited (NSE - SHERA), is one of leading manufacturer of winding wires and strips made from non-ferrous metals, has approved an additional investment in its subsidiary, Shera Metal Private Limited. Shera Energy Limited will increase its stake in Shera Metal Private Limited from 82.13% to 85.56% through the acquisition of an additional 3.43% shareholding, amounting to 35,00,000 equity shares. The total investment for this acquisition is valued at Rs10.15 Cr. Shera Metal Private Limited specializes in manufacturing non-ferrous metal products, including bus bars, tubes, and various industrial sections, with a production capacity of 13,000 MTPM. Shera Metal Private Limited has demonstrated strong financial performance, with a turnover of Rs294.43 Cr in FY24. By increasing the stake, Shera Energy foresees further expansion into new markets and product innovation, positioning itself as one of the key players in the industry. Shera Energy Limited remains committed to enhancing its business portfolio and reinforcing its leadership in the non-ferrous metals sector. This acquisition marks a strategic step towards achieving long-term operational excellence and sustainable growth. Commenting on the Investment in Subsidiary, Naseem Shaikh, Chairman and Managing Director, Shera Energy Limited expressed, "This strategic investment reinforces our commitment to strengthening Shera Energy's position in the non-ferrous metals sector. By increasing our stake in Shera Metal Private Limited, we are enhancing our ability to drive innovation, expand into new markets and improve our production capabilities. This move underscores our confidence in Shera Metal Private Limited's growth potential and aligns with our long-term vision of sustainable expansion. We are confident that this acquisition will create synergies, improve efficiencies, and unlock new opportunities for value creation." (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
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