Kilburn Engineering Limited (BSE:522101) agreed to acquire M.E Energy Pvt. Ltd. for INR 990 million on October 3, 2023. Under the terms of agreement, consideration consists of INR 760 million in cash and the remaining INR 230 million which is subject to adjustments on account of due diligence will be paid in shares. M.E Energy reported revenue of INR 447 million for FY 2022-23. The transaction is expected to close in 3 months and is subject to completion of due diligence, execution of definitive agreements and proposed preferential allotment of securities. The transaction has been approved by board of Kilburn Engineering. As of October 28, 2023, shareholder of Kilburn approved the deal.

Kilburn Engineering Limited (BSE:522101) completed the acquisition of M.E Energy Pvt. Ltd. from Kalathil Vijaysanker Kartha and others on February 20, 2024.