TRIVENI Group consolidates its Sugar Mills & Distillery while demerging its Power Transmission Business

The Board of Directors of Triveni Engineering & Industries Limited announced consolidation of its recently acquired listed company followed by separation of its power transmission business.

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Triveni Engineering & Industries Limited ("TEIL" or "Demerged Company" or "Transferee Company") is engaged in three business verticals:

• Sugar & allied business

• Power Transmission Business

• Water Business

The shares of TEIL are listed on nationwide bourses.

Sir Shadi Lal Enterprises Limited ("SSLEL" or "Transferor Company") is engaged in sugar & distillery business. I Distillery business mainly consist of manufacturing of spirit, Alcohol & Ethanol. The equity shares of SSLEL are listed on BSE Limited.

In 2024, TEIL to expand its sugar business acquired 25.43% equity shares from erstwhile promoters for a consideration of INR 35 crore. Pursuant to the acquisition, TEIL made open offer which did not garner any response from public shareholders. Thereafter TEIL acquired remaining stake for a consideration of INR 44.83 crore from erstwhile promoters of SSLEL making its total equity stake 61.7%.

Triveni Power Transmission Limited ("TPTL" or "Resulting Company") is incorporated to facilitate the proposed demerger of power transmission business of TEIL. As on date, TPTL is a wholly owned subsidiary of TEIL.

The Proposed Transaction