Zuari Industries shares climbed 1.98% to ₹280.55 on NSE after the company disclosed it had just bought 1.28 crore shares of Texmaco Infrastructure & Holdings for ₹147.96 crore.
The purchase lifted Zuari’s equity stake from 20.78% to 30.83%, giving the group a 9.05 percentage‑point jump in ownership of the real‑estate and mini‑hydel player.
The block deal was executed in a single tranche on September 23, the same day the shares hit the top of the trading range, and was approved by Zuari’s board on August 13 for a maximum of ₹150 crore across tranches.
Since the shares were bought from Zuari International, a wholly owned subsidiary, the transaction is a related‑party deal that falls outside Regulation‑23 SEBI rules; the promoter group still holds 66.55% of Texmaco’s paid‑up capital.
Texmaco’s FY24 turnover was ₹11.45 crore, with its core activities in real‑estate, mini‑hydel power and investments. The deal could strengthen Zuari’s exposure to the growing infrastructure niche.
Analysts note that the move could signal a broader strategy to consolidate holdings ahead of a potential IPO or dividend reinvestment. Investors will watch whether Zuari revises its capital allocation plans in the upcoming AGM.