Technocraft Industries (India) Limited (NSEI:TIIL) agreed to acquire BMS Industries Private Limited for approximately INR 700 million on June 29, 2023. Under the terms, Technocraft will pay the consideration in cash. BMS Industries reported turnover of INR 679.4 million, profit after tax of INR 56.4 million and net worth of INR 236.6 million for the financial year ending 2022-2023.

The transaction was approved by the Board of Directors of Technocraft and is expected to complete within one month.