Agarwal Industrial Corporation Ltd has announced a board meeting on approval of acquiring 100% equity shares of Konkan Storage Systems (Karwar) Private Limited for ₹22.00 Cr.

The target company operates in warehousing and storage, supporting transportation activities, with an average turnover around ₹3.0 Cr over the last three years.

This acquisition will transfer key leased storage assets to Agarwal Industrial, reducing costs and ensuring asset availability, enhancing its logistics and infrastructure capabilities in port-based industrial storage.

The deal is cash-based and pending execution of definitive agreements.