HIL Limited (NSEI:HIL) agreed to acquire Crestia Polytech Private Limited for INR 900 million on March 11, 2024. The consideration consists of INR 900 million in cash subject to certain net working capital and other adjustments. As part of the consideration, INR 900 million was paid towards common equity.

Crestia Polytech Private Limited reported the revenue of INR 1.6 billion for the financial year 2023. The board of directors of the HIL Limited (NSEI:HIL) approved the acquisition of 100% equity share capital of Crestia Polytech Private Limited. The completion of this acquisition is contingent upon the fulfillment of various conditions precedent as agreed between the parties and receipt of relevant approvals / consents as specified in the Share Subscription and Purchase Agreement.