DEE Development Engineers Acquires 70% Stake in Molsieve Designs Limited

BY ADMIN • FILED 28 Jan 2025, 7:10 PM

Dated January 28, 2025, announces DEE Development Engineers Limited’s (DEE) acquisition of a majority stake in Molsieve Designs Limited. The notification aligns with Regulation 30 of the SEBI (LODR) Regulations, 2015.

Acquisition Highlights:

Details: DEE will acquire 70% of Molsieve, and promoter Mr. Krishan Lalit Bansal will acquire an additional 15%.
Target Company (Molsieve):
- Incorporated on February 5, 2002, with an authorized share capital of ₹10,00,000 and a paid-up share capital of ₹5,00,000.
- Specializes in manufacturing hydrogen gas plants, ammonia cracking units, gas purification systems, and related equipment.
- Recent turnovers: ₹4.86 Cr (FY 2023-24), ₹4.03 Cr (FY 2022-23), ₹12.78 Cr (FY 2021-22).
Strategic Rationale: Aimed at enhancing DEE’s pilot plants business by integrating Molsieve’s expertise in ammonia crackers and hydrogen purification systems, complementing DEE’s solutions for hydrogen sector customers.
Financials: Total acquisition cost is ₹8.00 Cr (DEE: ₹6.59 Cr, Mr. Bansal: ₹1.41 Cr). This is a cash transaction.
Shareholding Post-Acquisition:
- DEE: 35,000 shares (70%).
- Mr. Bansal: 7,500 shares (15%).