Standard Engineering to acquire 51% in GScale Energy for ₹190 crore
after close1 source ↓written by the desknot a recommendation
- is acquiring
- 51% stake
- through a cash
- ₹190 crore
- by 2030
- $5.2–6.7 trillion
- for the acquisition
- ₹500 crore
- SETL shares closed
- 4.91% lower
Hyderabad-based Standard Engineering Technology (SETL) is acquiring a 51% stake in GScale Energy for ₹190 crore through a cash and share swap deal. This acquisition allows SETL to leverage GScale's expertise in AI data centers, tapping into a market opportunity of $5.2–6.7 trillion by 2030.
SETL plans to invest ₹500 crore for the acquisition and business expansion, funded through its cash flows. Following the announcement, SETL shares closed 4.91% lower at ₹213.20 after reaching a 52-week high of ₹236 intra-day.
Not investment advice. For informational purposes only.