Belding India Acquires Evolve IT Solutions to Bolster Advanced Security and Inspection Capabilities
Belding India Ltd has completed the acquisition of 100% equity stake in Evolve IT Solutions Private Limited, making Evolve a Wholly-Owned Subsidiary of the company. This strategic move significantly expands Belding's presence and capabilities within advanced manufacturing, industrial electronics, AI-enabled imaging, precision engineering, and mission-critical security technologies.The acquisition was executed at arm's length and does not fall under related party transactions. Evolve IT Solutions specializes in Security Screening & Inspection Technology and possesses expertise in various critical areas, including baggage scanners, cargo inspection systems, vehicle scanners, dual-view X-ray systems, and intelligent security screening solutions. The company operates from its dedicated manufacturing and R&D facility located at MIDC, Bhosari, Pune, establishing strong in-house capabilities in product design, engineering, and innovation.
The integration of Evolve's specialized technology is set to strengthen Belding's ability to deliver comprehensive technology solutions across energy, infrastructure, logistics, and homeland security sectors both domestically and internationally.
Acquisition and Entity Details
Key details regarding the acquisition and the acquired entity are summarized below:| Particulars | Details |
|---|---|
| Name of Acquired Entity | Evolve IT Solutions Private Limited |
| Industry | Security Screening & Inspection Technology |
| Transaction Status | Completed |
| Cost of Acquisition | Rs. 10.75 Crores |
| Shareholding Acquired | 100% |
Evolve IT Solutions Profile
Evolve IT Solutions Private Limited, incorporated on February 18, 2009, has built expertise by focusing on securing airports, ports, logistics hubs, border security, defense establishments, metro rail networks, customs, and industrial facilities. The company demonstrated consistent performance in its respective industry over the past three fiscal years:| Financial Year | Turnover (in crores) |
|---|---|
| FY 2024-25 | Rs. 20.81 |
| FY 2023-24 | Rs. 14.81 |
| FY 2022-23 | Rs. 20.00 |
Stock Price Movement
Belding India Ltd. settled down by 0.50% at the close of trade today, finishing at ₹1025.00. The shares saw strong intraday movement, testing as low as ₹1010.00 and peaking during the session at a high of ₹1057.85.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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