Aeroflex Industries Limited, a Mumbai-based company specializing in metal hose solutions, has converted a ₹10.59 crore loan into equity by acquiring 1,800 shares of its wholly owned subsidiary, Hyd-Air Engineering Private Limited, located in Maharashtra, India.
Aeroflex Industries Limited, a leading manufacturer of flexible metal hoses and assemblies based in Mumbai, has acquired full ownership of Hyd-Air Engineering Private Limited, a Maharashtra-based precision engineering firm. The acquisition was completed through the conversion of a ₹10.59 crore loan into equity, resulting in the issuance of 1,800 shares at ₹58,853 per share.
Hyd-Air Engineering, incorporated in 1981, specializes in manufacturing hydraulic fittings, fluid connectors, and flanges. The company has seen steady revenue growth, reporting a turnover of ₹8.05 crore in FY24, up from ₹5.17 crore in FY23 and ₹3.87 crore in FY22. The acquisition strengthens Aeroflex’s position in the precision engineering industry, further integrating its supply chain and expanding its product offerings.
According to the disclosure made to the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE), the transaction was executed at arm’s length. Hyd-Air Engineering, already a wholly owned subsidiary of Aeroflex, issued new shares in exchange for loan conversion.
This move aligns with Aeroflex Industries’ strategic growth plans, enabling the company to consolidate operations and leverage Hyd-Air’s expertise in precision manufacturing. With its growing presence in India, Aeroflex continues to strengthen its market position through financial restructuring and business expansion.
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