Maximus International Approves Acquisition of 40% Stake in Quebec Petroleum Resources Limited
Maximus International Ltd has approved a strategic investment through the acquisition of a 40 percent stake in M/s. Quebec Petroleum Resources Limited. The decision was made by the company’s Board of Directors during its meeting held on June 19, 2026.The target entity, Quebec Petroleum Resources Limited, is based in Vadodara and has been engaged in Lubricants Manufacturing and Petroleum Products Distribution in the Indian market for over twenty years. The acquisition is viewed by Maximus International as a strategic move to penetrate the Indian domestic market within a similar business line with the objective of long-term value creation.
The transaction involves entering into a Share Purchase Agreement (SPA) with the existing shareholder of Quebec Petroleum Resources Limited. Completion of the entire acquisition is contingent upon fulfilling the conditions set out in the SPA and associated transaction documents.
Transaction and Target Company Details
The acquisition structure is defined as a Cash Consideration purchase, involving 40% Paid-Up Share Capital of the target entity. The cost of this acquisition was reported at Rs. 18.43 Crores.The details of Quebec Petroleum Resources Limited and the transaction terms are summarized below:
| Particulars | Details |
|---|---|
| Target Company Name | M/s. Quebec Petroleum Resources Limited |
| Industry | Lubricants Manufacturing & Petroleum Products Distribution |
| Acquisition Percentage | Forty Percent (40%) Paid-Up Share Capital |
| Consideration Type | Cash Consideration |
| Cost of Acquisition | Rs. 18.43 Crores |
Financial Profile and Related Party Status
Quebec Petroleum Resources Limited is a company incorporated on November 21, 2005, under the provisions of the Companies Act. The company specializes in manufacturing and marketing oils and lubricants across automotive, industrial, and speciality segments, along with distributing petroleum products.It was noted that this acquisition falls within the ambit of a Related Party Transaction. Mr. Aniruddh Gandhi, who serves as a Non-Executive and Non-Independent Director and Substantial Beneficial Owner of Maximus International, holds a 40% stake in the equity of Quebec Petroleum Resources Limited. The transaction is being conducted on an arm’s length basis.
The turnover of the target company for the preceding three financial years stands as follows:
| Financial Year | Turnover (Rs.) |
|---|---|
| 2024-25 | 184.73 Crores |
| 2023-24 | 246.59 Crores |
| 2022-23 | 249.20 Crores |
Stock Price Movement
Maximus International Ltd shares settled at ₹11.75 in the post-market session, edging higher by 1.56% on Friday. The stock saw intraday movement, ranging between a low of ₹11.45 and an intraday high of ₹12.00.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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