Asahi India Glass Limited (BSE:515030) agreed to acquire 49.99% stake in Ais Distribution Services Limited from Map Auto Ltd. for INR 790 million on January 25, 2024. The consideration consists of INR 787.8 million in cash. As part of the consideration, INR 787.8 million was paid towards common equity.

The turnover of Ais Distribution Services Limited for FY23 stood at INR 3063.8 million. The transaction has been approved by the Board of Asahi India Glass Limited. It is subject to applicable approval based on which the transaction will be completed within 6 months.

Nitin Mukhi of RBSA Valuation Advisors LLP acted as financial advisor to Asahi group.