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EFC (I) Limited announced it has acquired 100% of the issued and paid-up capital of Ultrafresh Modular Solutions Limited, a modular home solutions company, for Rs 53.99 crore. The acquisition, to be completed by October 31, 2026, will be settled through a share swap involving the issuance of up to 19,99,996 equity shares and is intended to strengthen EFC (I) Limited’s furniture manufacturing and design & build solutions business, leveraging Ultrafresh’s presence in the modular furniture market and manufacturing plant in Nalagarh, Himachal Pradesh.

EFC (I) Limited announced that its board approved the issuance of up to 19,99,996 equity shares with a face value of Rs 2 each to various non-promoter investors, including TTK Prestige Limited, at a price of Rs 270 per share, for a total consideration of Rs 53,99,98,920. The issuance, subject to shareholder and regulatory approvals, will be utilized to acquire a 100% stake in Ultrafresh from the sellers, with valuation reports provided by Mr. Mukesh Kumar Jain and fairness opinion from Rarever Financial Advisors, and independently carried out by Deloitte Touche Tohmatsu India LLP.

EFC (I) Limited will seek shareholder approval for a proposal to issue equity shares through a preferential issue on a private placement basis, the company said in a filing on August 13, 2026, adding that the board will meet on August 18, 2026, to consider the matter and convene an extraordinary general meeting or postal ballot.

EFC (I) Limited announced it has entered into a Share Purchase Agreement to acquire 100% equity stake in Ultrafresh Modular Solutions Limited, a modular home solutions company partially owned by TTK Prestige Limited, for an acquisition cost of Rs 54 crore. The acquisition, expected to be completed on or before October 31, 2026, will be settled through a share swap and is intended to strengthen EFC (I) Limited’s furniture manufacturing and design business, leveraging Ultrafresh’s product portfolio, brand, and market presence in North India. Ultrafresh Modular Solutions Limited reported a turnover of Rs 36.32 crore in fiscal year 2025-26, Rs 32.49 crore in fiscal year 2024-25, and Rs 31.20 crore in fiscal year 2023-24.

Net profit of EFC (I) rose 58.91% to Rs 69.00 crore in the quarter ended June 2026 as against Rs 43.42 crore during the previous quarter ended June 2025. Sales rose 28.80% to Rs 282.88 crore in the quarter ended June 2026 as against Rs 219.62 crore during the previous quarter ended June 2025. ParticularsQuarter EndedJun. 2026Jun. 2025% Var. Sales282.88219.62 29 OPM %43.4746.52 - PBDT124.0394.24 32 PBT101.3466.06 53 NP69.0043.42 59 Powered by Capital Market - Live News