Standard Engineering Technology Limited (SETL) has announced an investment of Rs 70 crore to acquire a 19.19% stake in Japan-based GL HAKKO. The agreement also provides SETL with an option to increase its shareholding to 51.07% over the next three years, marking a major step in strengthening its global technology partnerships.
The collaboration aims to enhance the manufacturing of glass-lined shell-and-tube heat exchangers, semiconductor-grade process equipment, and clean-room solutions. Through this partnership, SETL plans to bring advanced Japanese engineering expertise to India and accelerate technology transfer for high-quality industrial manufacturing.
With growing demand from industries requiring specialized equipment, SETL sees a domestic market opportunity of nearly Rs 2,000 crore for glass-lined heat exchangers. The company is focusing on expanding production capacity, improving engineering capabilities, and delivering innovative solutions for critical sectors.
By combining GL HAKKO’s technological expertise with its manufacturing strengths, SETL aims to position itself as India’s largest glass-lined equipment manufacturer by FY27. This investment reflects the company’s vision to support India’s advanced manufacturing ecosystem and contribute to the country’s growing industrial and technology-driven sectors.
