Particulars | Details |
---|---|
Acquiring Entity | Hazoor Multi Projects Limited (HMPL) |
Target Entity | Vyom Hydrocarbon Private Limited (VHPL) |
Percentage of Equity Acquired | 51.00% |
Consideration | ₹1,02,000 (Cash) |
Number of Shares Acquired | 10,200 Equity Shares |
Date of Incorporation of VHPL | August 11, 2023 |
VHPL Authorized Capital | ₹15,00,000 |
VHPL Subscribed Capital | ₹2,00,000 |
VHPL Turnover (FY23-24) | Nil |
Acquisition Completion Status | Completed |
Strategic Rationale Behind the Acquisition
The acquisition of Vyom Hydrocarbon Private Limited is a pivotal step for Hazoor Multi Projects Limited as it seeks to diversify and expand its operational footprint. HMPL's stated objective is to venture into new, high-growth sectors, including Mining and Quarrying, the Oil and Gas industry, and the Extraction of Crude Petroleum and Natural Gas. Furthermore, the company aims to provide comprehensive Oilfield Equipment and Services, Drilling and Consulting services, and engage in Trade, Engineering, Procurement, and Construction Environmental Engineering and Sustainability initiatives, notably in Waste Management.
According to HMPL, VHPL operates in emerging sectors that are strategically aligned with the company's long-term objectives and operational strengths. This acquisition is anticipated to generate significant synergies, supporting HMPL's overarching growth and diversification plans. The move reflects HMPL's commitment to broadening its service offerings and tapping into new revenue streams within the energy and environmental sectors.
The offer pertains to a proposed settlement of liabilities and investments of Quippo Oil & Gas Infrastructure Ltd (Quippo) and the acquisition of rigs currently leased to Quippo. This initiative aligns with HMPL's existing shipyard operations, aiming to strengthen its footprint in the energy infrastructure domain.