Classic Filaments Limited completed the acquisition of a 51% equity stake in Procasts Engineering Private Limited on September 1, 2026. The transaction values the controlling interest at ₹12.00 crore, making the aluminium die casting firm a subsidiary of the Surat-based textile company.

The Board of Directors approved the completion during its meeting held on September 5, 2026, in New Delhi. The move aligns Procasts' operations with Classic Filaments' main line of business, as stated in the regulatory filing submitted to stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015.

Acquisition Details

Procasts Engineering Private Limited, incorporated in July 2021, operates in the aluminium die casting sector. The acquisition was executed through a fresh cash investment by Classic Filaments. No governmental or regulatory approvals were required for the deal.

The transaction is classified as a related-party transaction because the promoters of both the target entity and Classic Filaments are common. The company disclosed that the acquisition was conducted at arm's length.

Financial Context

Procasts reported a provisional turnover of ₹31.20 crore for the financial year ended March 31, 2026. This represents a decline from the ₹38.75 crore turnover recorded in FY25, which had grown significantly from ₹21.37 crore in FY24.

The target entity has an authorised share capital of ₹11.00 crore. Post-transaction, the issued, subscribed, and paid-up share capital stands at ₹5.67 crore, divided into 56,70,911 equity shares with a face value of ₹10 each.

Other Board Approvals

In addition to the acquisition, the board appointed Narendra Singh Negi, a Chartered Accountant with over five years of experience, as the internal auditor for FY27. The appointment aims to comply with the Companies Act, 2013, and SEBI listing regulations.

The board also authorised the application for GST registration and appointed M/s Amit Saxena & Associates as the scrutinizer for the e-voting process at the upcoming 36th Annual General Meeting. The notice for the AGM, along with the director's report for FY26, was also approved.

Classic Filaments Limited has acquired a 73.75% stake in Solven Power Systems Private Limited, making the entity its subsidiary. The acquisition was completed on June 29, 2026, through the execution of a Share Transfer Agreement. This strategic move expands the company's portfolio by adding Solven Power Systems to its subsidiary list.

The transaction was conducted in accordance with applicable provisions of law and the specific terms outlined in the Share Transfer Agreement. By securing the majority equity share capital, Classic Filaments Limited has effectively changed the status of Solven Power Systems Private Limited to that of a subsidiary.

Transaction Details

The acquisition follows the company's initial intimation to the stock exchanges on May 15, 2026. The completion of this share transfer triggers the necessary disclosures under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Vikkas Bansal, Director of Classic Filaments Limited, signed the intimation submitted to the BSE Limited. The company has informed the stock exchanges regarding the completion of the acquisition and the consequent change in the status of Solven Power Systems Private Limited.