Synopsis: Linde India’s board approved the acquisition of 100% of Airtech Cryogenic Gases Private Limited on 13 November 2026, in an all-cash deal estimated at Rs 111.20 crore. Airtech runs an air separation unit at Dholka, Gujarat, and the deal is expected to close in about eight weeks.
Linde India Limited has informed the exchanges that its board approved the acquisition of 100% of the share capital of Airtech Cryogenic Gases Private Limited on 13 November 2026. A share purchase agreement with Airtech’s shareholders was signed the same day. The disclosure was filed with NSE on 13 November at 8:16 pm IST.
Deal terms
The consideration is payable in cash and is estimated at Rs 111.20 crore, subject to closing and other adjustments. Airtech will become a wholly owned subsidiary of Linde India once the conditions precedent are met. The transaction is expected to be completed in about eight weeks, and no governmental or regulatory approvals are required.
The filing says the deal is not a related party transaction and that no promoter, promoter group or group company has an interest in Airtech. Linde India said the acquisition is meant to strengthen its core business, scale and growth.
About Airtech
Airtech Cryogenic Gases manufactures, sells and distributes industrial and medical cryogenic gases in India. It operates an air separation unit at Dholka, Gujarat, and was incorporated on 10 April 2023.
According to the filing, Airtech reported nil turnover for the year ended 31 March 2024 and Rs 4.58 lakh for the year ended 31 March 2025. For the year ended 31 March 2026, turnover was Rs 2,899.95 lakh (about Rs 29 crore), covering nine months of operation.
Sources
Disclaimer: This article is for information purposes only and is not investment advice.
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