Krishna Strapping Solutions Forays into Stainless Steel with ₹7.36 Cr Amanda Stainless Acquisition, Eyes 36,000 TPA Capacity
Mumbai: Krishna Strapping Solutions Limited (NSE: KRISHNA) has announced a strategic diversification into the specialty stainless steel industry by acquiring a 50.05% controlling stake in Amanda Stainless Private Limited. The acquisition, valued at ₹7.36 crore and funded entirely through cash, marks a significant milestone in the company’s long-term growth strategy.
The transaction will enable Krishna Strapping Solutions to expand beyond its core industrial packaging and high-tensile steel strapping business while establishing a strong presence in India’s growing stainless steel value-added products market.
Acquisition Details
Key highlights of the transaction include:
- Target Company: Amanda Stainless Private Limited
- Stake Acquired: 50.05% controlling interest
- Acquisition Value: ₹7.36 crore (cash consideration)
- Expected Completion: On or before July 31, 2026
Amanda Stainless has been incorporated specifically to develop a modern stainless steel manufacturing facility in Gujarat.
Greenfield Stainless Steel Plant in Gujarat
As part of the expansion, the company plans to establish a 36,000 tonnes per annum (TPA) stainless steel cold rolling facility near Vapi, Gujarat.
The Greenfield plant will feature advanced manufacturing capabilities, including:
- Stainless steel cold rolling
- Bright annealing
- Precision slitting
- Value-added stainless steel processing
Commercial production is expected to begin by February 2027.
Serving High-Growth Industrial Sectors
The new facility will manufacture stainless steel products catering to a wide range of industries, including:
- Utensils and cookware
- Kitchen appliances
- Original Equipment Manufacturers (OEMs)
- Commercial and industrial applications
- Engineering and fabrication industries
The expansion is expected to capitalize on increasing demand for high-quality stainless steel products across India’s manufacturing sector.
Management Commentary
Commenting on the acquisition, Bala Manikandan, Managing Director and Founder of Krishna Strapping Solutions, said the investment represents an important milestone in the company’s long-term growth strategy.
He noted that the acquisition will strengthen the company’s specialty steel manufacturing capabilities beyond southern India, broaden its product portfolio, and enhance its ability to serve diverse industrial customers while creating sustainable long-term value for shareholders.