Haryana, January 28, 2025 – DEE Development Engineers Limited (NSE: DEEDEV, BSE: 544198) has announced the acquisition of a 70% stake in Molsieve Designs Limited, a company specializing in hydrogen gas generation, ammonia cracking units, and industrial gas systems. The strategic acquisition, valued at ₹6.59 crore, is aimed at expanding DEE Development’s capabilities in hydrogen purification and industrial gas processing solutions.
Key Details of the Acquisition
- Target Entity: Molsieve Designs Limited.
- Industry: Chemical & Industrial Gas Plants & Equipment.
- Acquisition Details:
- DEE Development Engineers Limited: Acquiring 70% stake for ₹6.59 crore.
- Promoter Krishan Lalit Bansal: Acquiring 15% stake for ₹1.41 crore.
- Transaction Type: Cash consideration.
- Total Cost of Acquisition: ₹8.00 crore.
- Status: Transaction completed on January 27, 2025.
Strategic Rationale & Growth Prospects
- Expanding Hydrogen Infrastructure:
- Molsieve’s expertise in hydrogen purification & ammonia cracking aligns with DEE’s ambition to enter hydrogen-based energy solutions.
- The acquisition positions DEE to cater to growing hydrogen demand in India’s clean energy transition.
- Industrial Gas Solutions & Synergy:
- DEE will leverage Molsieve’s capabilities in compressed air dryers, gas storage vessels, and PSA nitrogen plants to strengthen its industrial offerings.
- The integration will enhance DEE’s process piping solutions for the hydrogen economy.
- Revenue Performance of Molsieve Designs:
- FY24 Revenue: ₹4.86 crore.
- FY23 Revenue: ₹4.03 crore.
- FY22 Revenue: ₹12.78 crore.
Company Statement
A DEE Development spokesperson stated:"This acquisition will accelerate our expansion into industrial gases and hydrogen infrastructure, complementing our existing expertise in process piping. Molsieve’s technology will allow us to serve emerging clean energy markets more efficiently."
