BCL Industries expands control of subsidiary, plans land sale

BCL Industries Limited announced two key strategic decisions following a Board of Directors meeting. The company plans to sell its land located at Hazi Ratan Link Road, Bathinda, empowering its managing director, Rajinder Mittal, to finalize the sale.

In a move to strengthen its position in the grain-based ethanol sector, BCL Industries will acquire an additional 25% stake in Svaksha Distillery Limited, increasing its ownership to 100%. This acquisition, valued at approximately INR 55 Cr (INR 367 per share for 14,98,632 equity shares), will make Svaksha Distillery a wholly-owned subsidiary. Svaksha Distillery operates a 300 KLPD ENA/grain-based ethanol unit in Kharagpur, West Bengal, and reported a turnover of INR 845 Crores for FY 2024-25. The acquisition is expected to be completed by June 30, 2026.