SHV Energy India Private Ltd. entered into agreement to acquire All movable assets of LPG Bottling Plant from Ashirwad Steels & Industries Limited (BSE:526847) for INR 40 million on January 24, 2022. In a related transaction, SHV Energy Pvt. Ltd. entered into agreement to acquire entire lease hold land of the said plant of LPG Bottling Plant from Ashirwad Steels & Industries Limited for INR 120 million on January 24, 2022.

The transaction is subject to approval from West Bengal Industrial Infrastructure Development Corporation (WBIIDC) and has been approved by shareholders of Ashirwad Steels & Industries Limited. The transaction is expected to close on March 31, 2022.