M&A

M&A

Contract mfg co. Zetwerk to acquire 51% stake in electrical products maker Kryfs in stock deal

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Bengaluru-headquartered contract manufacturing startup Zetwerk is to acquire a 51% stake in Mumbai-based Kryfs Power Components , a manufacturer of transformer cores and electrical steel products. As part of this transaction, Zetwerk will issue 25,60,000 preference shares worth INR 238 crore to Kryfs’s shareholders (Saifuddin Fakhruddin Qureishi, Rauzat Saifuddin Qureishi, and Aalliyah Qureishi).Founded in 1992, Kryfs is a transformer core maker with a capacity to process 50,000 MT of CRGO electrical steel annually. The company operates across the energy supply chain, from solar power generation to transformer manufacturing, and runs 10 plants across Dadra and Nagar Haveli, Maharashtra, Gujarat, and Madhya Pradesh.