Walchandnagar Industries touches roof on getting nod to acquire around 60.3% stake in AiCitta
Walchandnagar Industries is locked its upper circuit limit at Rs. 161.75, up by 7.70 points or 5.00% from its previous closing of Rs. 154.05 on the BSE.
The scrip opened at Rs. 156.00 and has touched a high and low of Rs. 161.75 and Rs. 154.45 respectively. So far 25724 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 438.00 on 01-Aug-2024 and a 52 week low of Rs. 142.95 on 04-Mar-2025.
Last one week high and low of the scrip stood at Rs. 171.95 and Rs. 142.95 respectively. The current market cap of the company is Rs. 1091.16 crore.
The promoters holding in the company stood at 31.53 % while Institutions and Non-Institutions held 0.69 % and 67.78 % respectively.
Walchandnagar Industries has received approval from Board of Directors to acquire majority stake in AiCitta Intelligent Technology (Aicitta), a company engaged in R&D and manufacture of Unmanned Ground Vehicles (UGVs).
As part of the deal, the company will acquire around 60.3% stake and the transaction is expected to be completed over a period of time. With this deal, Aicitta will be a wholly-owned subsidiary of Walchandnagar Industries. This foray into next-generation defence technologies, which have proven effective in recent global wars, will provide the next leg of growth opportunities for the company.
The board of directors of the company at their meeting held on March 04, 2025, has, approved the same.
Walchandnagar Industries (WIL) is an ISO 9001: 2015 certified Indian company with global presence and diversified business portfolio in Projects, Products and High-tech Manufacturing. The company has established its name as one of the best in its operational areas.
