Standard Engineering Technology Limited has approved the issuance of ~24.4 lakh equity shares for cash and ~22.2 lakh shares via share swap. The share swap consideration has been slightly revised to Rs. 64.99 Cr, impacting the number of shares issued to ~22.18 lakh.
SETL reports strong Q1 FY27 with 41.5% YoY income growth to Rs. 252.2 Cr. Strategic entry into AI Datacenter Infrastructure via GScale acquisition and Rs. 71.5 Cr investment in Japan's GL Hakko to expand technology offerings.
Standard Engineering Technology has acquired 33.55% in GScale Energy Private Limited, making it an associate company. The remaining acquisition is planned via share swap.
Standard Engineering Technology completed Phase I investment in Japan's GL HAKKO, acquiring 19.19% stake. Phase II aims to increase shareholding up to 51.07%.
SETL invests ₹70 Cr for a 19.19% stake in Japan's GL Hakko, gaining access to advanced glass-lining tech and expanding capacity. This move supports SETL's goal to be India's largest glass-lined equipment maker.
