With reference to intimation dated 25.01.2024 and pursuant to regulation 30 of SEBI Listing Regulations, we would like to inform you that, Shivaliks Mercantile Private Limited, the JV-SPV of Sidwal Refrigeration Industries Private Limited, the wholly owned material subsidiary of the Company has acquired 34.59% stake in the share capital of Titagarh Firema, a company based out of Italy, at a cost consideration aggregating to approximately Rs. Euro 20.21 million, yo grow capabilities and capacities for various products in India and Italy