Linde India & Praxair India Ltd joins hand

The board of directors of Linde India, post careful evaluation of integration plan made for realising synergies between the businesses, have approved of a joint venture between the company and Praxair India to render operation and management services to both Linde India as well as Praxair India.

The joint venture between Linde India Limited and Praxair India Private Limited will be a holding of 50 per cent of the total issued and paid-up share capital of the joint venture. Subsequently, Linde India has acquired 50 per cent of the total issued and paid-up share capital of LSAS Services Private Limited, which is the joint venture company while, Praxair India holds the remaining 50 per cent of the total issued and paid-up share capital of the joint venture company. LSAS Services will provide for services such as procurement, SHEQ, human resources, finance, IT, legal, administration, business development, onsite account management, sales and marketing, product management on an arms’ length basis. Additionally, Linde India will be investing Rs 19.95 million into the joint venture company as additional equity subscription in order to maintain a stake of 50:50.

Linde India Ltd, which was formerly known as BOC India Limited, is engaged in the gas business. It is engaged in the manufacturing of liquefied or compressed inorganic industrial or medical gases and construction of utility projects. Its business segments include gases and related products as well as project engineering.

On Wednesday, the stock of the company was trading at Rs 436.50, up by 1.28 per cent or Rs 5.50 per share. The 52-week high is Rs 801 and 52-week low is Rs 378 on BSE.