Fabtech Raises Stake in Kelvin Air Conditioning to Majority Ownership

Fabtech Raises Stake in Kelvin Air Conditioning to Majority Ownership

India: Fabtech Technologies Cleanrooms Limited has completed the acquisition of an additional 9.20 percent stake in Kelvin Air Conditioning and Ventilation Systems Private Limited, increasing its total shareholding to 60.53 percent. The cash-based transaction, completed on January 19, 2025, was valued at INR 46.5 million (USD 0.56 million; EUR 0.52 million). The acquisition involved the purchase of 1,380 equity shares and is intended to strengthen the existing partnership between the two companies. 

Kelvin Air Conditioning and Ventilation Systems Private Limited, incorporated in 2007, operates in the heating, ventilation and air conditioning sector. The company reported revenue of INR 4,344.3 million in the financial year ended 2025 (USD 52.3 million; EUR 48.5 million). Fabtech stated that the increased shareholding is aligned with its strategy to support expansion across selected markets and consolidate its position within the HVAC segment. 

Source: Scan X