<h1>Isgec Sells Stake in Joint Venture Company, Reduces Holding and Restructures Relationship</h1>
Isgec Heavy Engineering Limited has successfully completed the transfer of equity shares in Isgec SFW Boilers Private Limited, a joint venture company. The transaction resulted in Isgec reducing its shareholding in the JV Company from 51% to 26%.
The sale involves 500,000 equity shares held by Isgec in the JV Company, which represented 25% of the paid-up share capital. The buyer for these shares was Sumitomo SHI FW Energia Oy.
Following the completion of this transaction on June 25, 2026, the company’s status regarding the JV Company has changed. Isgec SFW Boilers Private Limited will cease to be a subsidiary of Isgec Heavy Engineering Limited and will henceforth operate as an associate company. The company will continue as a joint venture between Isgec Heavy Engineering Limited and Sumitomo SHI FW Energia Oy.
The transaction was initiated following an agreement on May 08, 2026. The consideration for the transfer of the 500,000 equity shares was Rs. 4 crores (Rupees Four crores only).
Details regarding the Target Company's financial performance during the last financial year 2024-25 are provided below:
| Particular | Amount in Rupees | Percentage of Consolidated |
|---|---|---|
| Turnover/Revenue/Income Contribution (Set 1) | 11,86,88,400 | 0.18% |
| Turnover/Revenue/Income Contribution (Set 2) | 8,30,13,080 | 0.29% |
The sale involved the transfer of equity shares from Isgec Heavy Engineering Limited to Sumitomo SHI FW Energia Oy. The buyer is noted as a joint venture partner and does not belong to the Promoter group companies of the listed entity.
ISGEC Stock Price Movement
Shares of Isgec Heavy Engineering Limited slipped by 0.91% to close on Thursday at ₹922.9. The stock traded with a volume of 24,941 shares during the session.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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