Standex Buys Remaining 9.9% Stake in Narayan Powertech for $64M
Standex International acquires full ownership of India's Narayan Powertech, paying $64M for the final 9.9% stake.
Standex International has moved to secure complete control of Indian electrical components maker Narayan Powertech, paying $64 million to acquire the remaining 9.9% stake it did not already own, according to a report from SeekingAlpha. The deal brings Standex to 100% ownership of the Indian firm, marking a significant consolidation of its position in one of the world's fastest-growing industrial markets.
The acquisition underscores Standex's broader strategy of deepening its footprint in Asia, particularly in India, where infrastructure investment and energy demand have been accelerating. Narayan Powertech operates in the power components segment, a sector that stands to benefit from India's ongoing grid modernization and electrification initiatives.
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By eliminating the minority stake, Standex gains full operational and financial control over Narayan Powertech, which could streamline decision-making and allow tighter integration with its global manufacturing and engineering divisions. Minority stakes can limit a parent company's flexibility on capital allocation, strategy, and dividend policies — removing that constraint is often a catalyst for faster organic growth.
The $64 million price tag for just under 10% of the business implies a substantial overall valuation for Narayan Powertech, reflecting the premium investors and acquirers are currently placing on industrial assets tied to India's energy transition. Analysts watching the industrial conglomerate space will likely scrutinize whether Standex plans further bolt-on acquisitions in the region to build scale.
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