Indian Oiltanking Limited has acquired a 54.90% stake in Stewarts & Lloyds of India from Tata Steel, aiming to strengthen its presence in the burgeoning piping construction sector.
Information on the Target
Stewarts & Lloyds of India (S&L), headquartered in Kolkata, is a prominent player in the piping construction industry within India. The company specializes in providing high-quality piping solutions and has established itself as a key contributor to various infrastructure projects throughout the country. In the fiscal year 2003-2004, S&L reported a revenue of 54 Crores, highlighting its significant market presence and operational scale.
The acquisition encompasses a 54.90% stake in S&L, along with interests held by its subsidiaries, Kalimati Investment Company Limited and Tata Refractories Limited. This strategic acquisition aligns with Indian Oiltanking Limited's goal of expanding its portfolio within the construction sector, particularly in piping infrastructure.
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Industry Overview in India
The piping construction industry in India is experiencing robust growth fueled by increased infrastructure development and a rising demand for efficient utility services. Government i
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Indian Oiltanking Limited
invested in
Stewarts & Lloyds of India
in 2004
in a Strategic Partnership deal
Disclosed details
Transaction Size: $38M
Revenue: $11M