Garg Furnace Ltd

Garg Furnace Expands with 51.22% Stake in Vaneera Industries 🏭📈

- Garg Furnace acquired 51.22% stake in Vaneera Industries on August 21, 2025, making it a subsidiary.

- Vaneera specializes in furnaces, foundries, and metal castings within the steel industry.

- Acquisition price: ₹36.27 Cr at ₹62/share (face value ₹10).

- Vaneera's revenue (March 2024): ₹341.08 Cr.

- Turnover trend: FY24 (₹341.08 Cr), FY23 (₹327.99 Cr), FY22 (₹34.36 Cr).

- Strategic goal: Expand operations and market presence with better synergy.

- Transaction structured as arm's length despite common promoters/directors.

- Vaneera incorporated in 2011, based in Ludhiana, Punjab.