Lakshya Powertech Limited Acquires Stake in Subsidiary, Plans Joint Venture
Lakshya Powertech Limited announced on March 26, 2026, that its Board of Directors approved the acquisition of a 51% equity stake in Lakshya EPC Private Limited, making it a subsidiary of Lakshya Powertech. The acquisition involves 5,100 equity shares at a value of Rs. 10 each, totaling Rs. 51,000.Additionally, the Board approved the formation of a joint venture with Multitex Filtration Engineers Limited. Lakshya Powertech and Multitex will acquire 51% and 49% stakes, respectively, in the new joint venture, with shares priced at Rs. 10 per share, aggregating to a total consideration of Rs. 51,000 and Rs. 49,000, respectively.
The company stated that the joint venture is expected to leverage synergies and enable strategic partnerships to secure large-scale work orders.
Lakshya Powertech also disclosed plans to incorporate a subsidiary company in Canada. Details regarding this venture are expected to be released upon finalization. The proposed incorporation aims to explore business opportunities in the international market, particularly in the oil & gas and EPCC segments.
Lakshya EPC Private Limited was incorporated on September 12, 2025, and operates in the Engineering, Procurement, Construction, and Commissioning (EPCC) and Operations & Maintenance (O & M) services sectors. The acquisition is considered a related party transaction, with Directors and promoters, Rajesh Anne and Priya Anne, holding interests in Lakshya EPC Private Limited. The transaction is expected to be completed by March 31, 2026.
| Particulars | Details |
|---|---|
| Name of Target Entity | Lakshya EPC Private Limited, incorporated September 12, 2025 |
| Industry | Engineering, Procurement, Construction, and Commissioning (EPCC) and Operations & Maintenance (O & M) services |
| Consideration | Cash consideration of Rs. 51,000 |
| Shareholding Acquired | 51% |
| Acquisition Completion Date | Tentatively before March 31, 2026 |
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