Droneacharya Aerial Innovations Ltd Acquires Remaining 49% Shares of PYI Technologies

Droneacharya Aerial Innovations Ltd has announced the acquisition of the remaining 49% shares of PYI Technologies Private Limited. The acquisition will make PYI Technologies a Wholly Owned Subsidiary of Droneacharya. The transaction is a related party transaction, but it is done at arm's length and there is no interest from the promoter/promoter group/group companies. The acquisition will expand the scope of business in Drone Manufacturing, trading and drone training. The cost of acquisition is Rs 49,000. PYI Technologies was incorporated on 28/04/2022 and has a turnover of Rs 14,80,418. Post acquisition, Droneacharya will have balance 49% stake in PYI Technologies.