Kilburn Engineering jumps on completing acquisition of M.E Energy
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Kilburn Engineering is currently trading at Rs. 318.05, up by 4.70 points or 1.50% from its previous closing of Rs. 313.35 on the BSE.
The scrip opened at Rs. 315.00 and has touched a high and low of Rs. 320.00 and Rs. 315.00 respectively. So far 85532 shares were traded on the counter.
The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 328.00 on 07-Feb-2024 and a 52 week low of Rs. 82.50 on 22-Feb-2023.
Last one week high and low of the scrip stood at Rs. 320.00 and Rs. 290.00 respectively. The current market cap of the company is Rs. 1325.71 crore.
The promoters holding in the company stood at 54.57%, while Institutions and Non-Institutions held 0.03% and 45.39% respectively.
Kilburn Engineering has successfully completed acquisition of M.E Energy, a distinguished leader in waste heat recovery (WHR) and waste heat reutilization systems. This acquisition, effective from February 20, 2024, for an aggregate consideration of Rs 98.70 crore marks a significant milestone in Kilburn's strategic growth journey. Consequently, M E Energy has become a wholly owned subsidiary of the Company.
This acquisition is a decisive step for Kilburn Engineering to emerge a comprehensive solution provider in the field of thermal engineering and heat recovery systems. By integrating M.E Energy's expertise, Kilburn enhances its product offering for its existing diverse client base while gaining access to new industries and clients. This strategic move aligns seamlessly with Kilburn's overarching objective of ensuring sustained, profitable growth and fortifying its capabilities, resulting in an enhanced value proposition for shareholders.
Kilburn Engineering is engaged in process design, engineering, manufacturing, project management and installation of equipment and systems for various process plants.
