Coimbatore-based Revathi Equipment Ltd has reported that it has acquired 70% stake in the equity capital of Semac Private Limited, a Company providing Engineering design solutions for industrial / commercial and infrastructure constructions, for a consideration of Rs 45.50 crore.

Bangalore-based Semac serves its customers from its offices spread located at Bangalore, Delhi, Hyderabad and Middle East.

Revathi Equipment engages in the manufacture and sale of drilling equipments, accessories for mining, construction, and water well/exploration drilling applications in India. In addition, the company manufactures concreting equipment, such as batching plants, transit mixers, and concrete pumps, as well as generates electric power. Revathi Equipment exports its products to the U.S., Jordan, Tunisia, Nigeria, South Africa, and Australia.

Shares of the company slipped Rs 25, or 2%, to settle at Rs 1175. The total volume of shares traded was 110 at the NSE. (Thursday)