Zuari Industries Ltd has completed a significant acquisition of 1,28,10,900 equity shares in Texmaco Infrastructure & Holdings Ltd for a total consideration of ₹147.96 crore, inclusive of brokerage charges, Securities Transaction Tax, stamp duty and other applicable taxes and charges. The acquisition was executed through a block deal in a single tranche on the National Stock Exchange of India on September 23, as disclosed in a regulatory filing by Zuari Industries. The transaction constitutes a related-party transaction as the shares were acquired from Zuari International Ltd, a wholly owned subsidiary of Zuari Industries.
The acquisition has significantly increased Zuari Industries' stake in Texmaco Infrastructure & Holdings. Prior to the acquisition, Zuari Industries held 20.78% of the equity share capital of Texmaco Infrastructure & Holdings. Following the acquisition, its shareholding has increased to 30.83%. The company stated that the acquisition has been undertaken for the purpose of consolidating the investment portfolio at the listed holding company level, pursuant to board approval at its meeting held on August 13 for acquisition of equity shares aggregating up to ₹150 crore in one or more tranches.
Welspun Living and Texmaco Infrastructure emerged as the two stocks that recorded significant block deals on Wednesday, September 23, driving substantial investor interest. According to NSE deals data, both companies' equity shares exchanged hands between unnamed buyers and sellers during the morning block deal window, resulting in elevated trading volumes and high-volume gains throughout Wednesday's market session. Zuari Industries shares closed 1.98% higher at ₹280.55 on Wednesday, September 23, gaining ₹5.45 during the session, reflecting positive market sentiment around the acquisition announcement.
The transaction involves Zuari International Ltd, a wholly owned subsidiary of Zuari Industries, which sold the shares to its parent company. The company noted that the provisions of related-party transactions under Regulation 23 of the SEBI Listing Regulations are not applicable to the transaction as it is between the company and its wholly owned subsidiary. Zuari Industries and Zuari International, along with certain other persons/entities, form part of the promoter and promoter group of Texmaco Infrastructure & Holdings, which collectively holds 66.55% of the paid-up equity share capital. The aggregate shareholding of the promoter and promoter group in Texmaco Infrastructure & Holdings remains unchanged at 66.55% following the acquisition.
Texmaco Infrastructure & Holdings operates in real estate, mini hydel power and investments, with its standalone turnover for the financial year ended March 31, 2026 being ₹11.45 crore. The company's promoter and promoter group collectively holds 66.55% of the paid-up equity share capital, with Zuari Industries now holding 30.83% following the latest acquisition. This strategic consolidation reflects the ongoing restructuring within the promoter group's investment portfolio.
