Triveni Engineering Limited Purchases 36% Stake in Sir Shadi Lal Enterprises Limited

Triveni Engineering & Industries Ltd., a prominent integrated sugar producer and leader in high-speed gears and water management, has announced the acquisition of an additional 36.34% stake in Sir Shadi Lal Enterprises Limited (SSEL).

This acquisition, valued at ₹44.83 crore with each share priced at ₹235, was finalized through a Share Purchase Agreement with the Second Promoter Group on June 20, 2024. Following this transaction, Triveni's ownership in SSEL now stands at 61.77%, establishing SSEL as a subsidiary of Triveni.

The company awaits approval from the Securities and Exchange Board of India (SEBI) for an Open Offer to acquire up to 26% of SSEL's Voting Share Capital from its shareholders. Mr. Tarun Sawhney, Vice Chairman & Managing Director of Triveni, emphasized that this strategic move enhances Triveni's position in the sugar and alcohol sectors.

He anticipates operational synergies with SSEL's proximity to Triveni's major sugar units, promising improved efficiencies and mutual benefits for stakeholders, including the farmer community.

Read the full press release here

Triveni Engineering Limited

Triveni Engineering & Industries Limited (TEIL), a diversified industrial conglomerate, continues to excel in multiple sectors including sugar, alcohol, power transmission, and water solutions. Renowned as one of India's largest integrated sugar manufacturers and ethanol producers.

 TEIL operates seven sugar mills strategically located across Uttar Pradesh. These include facilities in Khatauli, Deoband, Sabitgarh (western UP), Chandanpur, Rani Nangal, Milak Narayanpur (central UP), and Ramkola (eastern UP).

TEIL's state-of-the-art distilleries in Muzaffarnagar (MZN), Sabitgarh (SBT), Milak Narayanpur (MNP), and the newly commissioned Rani Nangal (RNG) collectively boast a production capacity of 860 KLPD, manufacturing Ethanol, Extra Neutral Alcohol (ENA), Rectified Spirit (RS), and Denatured Spirit (SDS).

In addition, TEIL operates a Power Transmission facility in Mysuru and a Water & Wastewater treatment business in Noida. The company's commitment to sustainability is evident through its six co-generation power plants across five sugar units, contributing 104.5 MW of grid-connected co-generation capacity.

Sir Shadi Lal Enterprises Limited

Sir Shadi Lal Enterprises Limited, established in 1933 as "The Upper Doab Sugar Mills Limited" by Sir Shadi Lal, operates two manufacturing units in Uttar Pradesh. The company specializes in sugar production with a cane crushing capacity of 7500 TCD per day at its Upper Doab Sugar Mills in Shamli, Muzaffarnagar district.

Additionally, it runs Shamli Distillery, producing ethanol/alcohol with a capacity of 100.00 KLPD, located strategically near Muzaffarnagar, Saharanpur, and Delhi.