L.G. Balakrishnan & Bros Limited (NSEI:LGBBROSLTD) agreed to acquire Machining Division at Pondicherry Plant from LGB Forge Limited (NSEI:LGBFORGE) for INR 150 million on November 27, 2023. Machining Division at Pondicherry Plant reported revenue of INR 246.9 million and Total Common equity of INR 132.1 million in March 31, 2023. The transaction has been approved by the Audit committee and the board of director's , The transaction will seek shareholders' approval in relation to the transaction.

The end use of the proceeds will be utilized to Towards repayment of bank borrowings, Towards Capital Expenses and Towards Working Capital. The transaction is expected to be completed on or before March 10,2024.