GMM Pfaudler Ltd. (GMMP) has been declared as the successful bidder for the acquisition of HDO Technologies Ltd.’s assets for ₹ 58.46 crore.
The company had expected in the e-auction process for sale of assets owned by HDO, under the IBC. This facility, spread over 11.9 acres with seven manufacturing bays and built-up area of 23,617 sq. m. in Vatva, Ahmedabad, is equipped to manufacture heavy engineering equipment, the company said.
The transaction is expected to be completed by April 30.