Standard Engineering Technology Limited (SETL), formerly Standard Glass Lining Technology Limited, announced on Monday a phased equity investment in GL Hakko Co., Ltd., a Japanese manufacturer of glass-lined process equipment, with an initial outlay of ₹70 crore for a 19.19 per cent stake.The Hyderabad-based company’s board approved the transaction at a meeting on July 6, 2026. SETL will fund the investment entirely from internal accruals without taking on external debt. The deal also grants SETL the right — though not the obligation — to acquire an additional 31.88 per cent stake for ₹116.7 crore by 2028, which would take its aggregate holding to 51.07 per cent, giving it majority control of the Japanese company.The transaction is structured as a primary capital infusion, meaning proceeds flow directly into GL Hakko’s operations rather than to existing shareholders. GL Hakko has indicated it will deploy the funds toward expanding capacity for glass-lined shell and tube heat exchangers, semiconductor-grade process equipment, and a clean room for equipment assembly.SETL noted the deal constitutes a related party transaction, as Yasuyuki Ikeda, the company’s Additional Executive Director and CEO of the AGI Group, holds an interest in GL Hakko. The company stated the transaction will be conducted on an arm’s length basis. Completion is subject to approvals under Japan’s Foreign Exchange and Foreign Trade Act and other regulatory clearances, with a target closing within 30 days of signing definitive agreements.GL Hakko, incorporated in 1955 and based in Nakatsu, Oita, is described as Japan’s only dedicated glass-lining specialist. The company reported turnover of ¥3,226 million (approximately ₹1,904 million) in the 2025-26 financial year, up from ¥2,590 million the previous year, per Japanese GAAP. It has supplied over 20,000 units to pharmaceutical, chemical and food plants globally.The AGI Group, GL Hakko’s parent company, invested in SETL in 2023 and currently holds the second-largest shareholding in SETL after its promoters. The two companies stated they intend to roughly double GL Hakko’s revenues to ₹400 crore over the next two to three years before SETL exercises its right to move to a majority position.SETL shares were trading at ₹261.65 on the NSE on Tuesday, down 2.26 per cent on the day, against a 52-week high of ₹305.30 recorded on July 3, 2026. The company’s total market capitalisation stood at approximately ₹5,217 crore.Published on July 7, 2026