Business Update22 Aug 2024, 11:56 pm
Exicom Tele-Systems Completes Second Tranche Investment in Dutch Subsidiary Exicom Power Solutions B.V.
AI Summary
Exicom Tele-Systems Ltd. has completed the remittance of the second tranche for subscribing to an additional 16,05,000 Ordinary Shares of Exicom Power Solutions B.V., a wholly owned subsidiary, for a cash consideration of EURO 16,05,000 (equivalent to Rs. 14,96,32,385/-). The acquisition aims to capitalize on the growing business opportunities and global expansion plans in the Electric Vehicle Supply Equipment Sector and Telecom Sector. This investment is in line with the Board approval dated August 05, 2024, and is subject to FEMA and other applicable compliances.
Key Highlights
- Exicom Tele-Systems Ltd. has completed the second tranche investment in wholly-owned Dutch subsidiary, Exicom Power Solutions B.V.
- The investment involves subscribing to 16,05,000 Ordinary Shares for a cash consideration of EURO 16,05,000 (equivalent to Rs. 14,96,32,385/-).
- The acquisition is focused on capitalizing growing business opportunities and global expansion plans in Electric Vehicle Supply Equipment Sector and Telecom Sector.
- This investment is in line with the Board approval dated August 05, 2024, and is subject to FEMA and other applicable compliances.
- Exicom Power Solutions B.V. is a turnkey solutions provider in the field of Telecom, Off-grid Solar and Electric Vehicle Charging Infrastructure.