Corporate News

31-Aug-2026, 06:10

Millworks Technologies Limited announced it will convert a Rs 2,74,85,222.35 loan extended to Vidwan Aeronautics Private Limited into equity, acquiring a 67% stake and making Vidwan Aeronautics a subsidiary. The acquisition will involve the subscription of 15,22,727 equity shares of Vidwan Aeronautics at Rs 18.05 per share, with the transaction expected to be completed by September 30, 2026. Vidwan Aeronautics Private Limited, incorporated in 2017, is engaged in the manufacture of high precision Aerospace Engine components and reported a turnover of Rs 2.02 crore for the fiscal year 2025-26.