Krishca Strapping Solutions Approves Acquisition of Stake in Manda Stainless; Appoints New Internal Auditor
Krishca Strapping Solutions Limited announced two key outcomes from its Board of Directors meeting held on July 06, 2026. The company approved the acquisition of a significant stake in Manda Stainless Private Limited and appointed V C MV & Associates LLP as its new internal auditor for the Financial Year 2026-27.The board decided to acquire 50.05% of the equity share capital of Manda Stainless Private Limited. The acquisition is intended to strengthen Krishca’s business operations, expand market presence, and achieve strategic synergies to create long-term value for stakeholders.
Krishca Strapping Solutions made a cash consideration of INR 7,50,00,000/- for acquiring the shares. This investment covers 73,60,295 Equity Shares of the Investee Company at a cost of Rs. 7,50,00,000.
Details regarding Manda Stainless Private Limited and the acquisition are summarized below:
| Particulars | Details |
|---|---|
| Target Entity | Manda Stainless Private Limited (Registered in Mumbai) |
| Industry | Manufacturing, processing, slitting, rolling, and finishing of stainless steel and ferrous/non-ferrous metals. |
| Acquired Stake | 50.05% of the paid-up equity share capital. |
| Transaction Type | Cash consideration: INR 7,50,00,000/- |
| Timeline for Completion | The acquisition is expected to be completed on or before July 31, 2026, pending fulfillment of pre-conditions. |
The background notes that Manda Stainless Private Limited has engaged in the manufacturing and supply of stainless steel and related products, with turnover figures reported as follows:
| Financial Year | Turnover |
|---|---|
| FY 2025-26 | Not Applicable |
| FY 2024-25 | Rs. 2,18,457/- |
| FY 2023-24 | Not Applicable |
The company noted that the acquisition does not fall within a related party transaction, and no promoter or promoter group companies hold an interest in Manda Stainless Private Limited.
Appointment of Internal Auditor
In addition to the acquisition approval, the Board also approved the appointment of V C MV & Associates LLP, a Chartered Accountant firm, as the Internal Auditor for Krishca Strapping Solutions Limited for the Financial Year 2026-27.The appointment was made to comply with corporate requirements, and the auditor holds over eight years of experience in areas including Statutory audit, Internal Audit, Tax audit, GST audit, and Consultancy. The company confirmed that there is no relationship between its directors and the appointed auditor.
KRISHCA Stock Price Movement
Shares of Krishca Strapping Solutions Limited settled lower today, shedding 2.04% and closing the market at ₹163.70. The equity traded within a range established by a low of ₹163.30 and a high of ₹170.60, with 12,500 shares transacted 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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