Asahi India Glass Limited agreed to acquire 47.83% stake in AIS Adhesives Limited from Map Auto Ltd. for Rs. 26 crore on January 25, 2024. The consideration consists of Rs. 25.6 crore in cash. As part of the consideration, Rs. 25.6 crore million was paid towards common equity.

The acquisition is subject to applicable approval based on which the transaction will be completed within 6 months.

AIS Adhesives Limited is engaged in repackaging of glass adhesives and repair and replacement centres across India. Its turnover for FY 2022-23 was Rs. 34.49 crores.

The objective of the acquisition is to get access to downstream consumer retail market segment, which is poised for huge growth. The Company has a very good brand connect with consumers and has proven quality and service in glass adhesives for last 3 decades.

Acquisition of a retail consumer facing business line of AIS Adhesives Limited will give a head-start to the Company in the consumer glass segment.