Acquisitions23 Apr 2026, 08:01 pm
Force Motors completes \u20b9161.96 Cr acquisition of Veera Tanneries
AI Summary
Force Motors Ltd has announced the completion of its acquisition of Veera Tanneries Private Limited (VTPL). The Share Purchase Agreement was executed on April 23, 2026, between Force Motors, VTPL, and VTPL's shareholders. The total consideration for purchasing the entire shareholding of VTPL amounted to \u20b9161,96,25,729. Following this acquisition, Veera Tanneries Private Limited has become a Wholly Owned Subsidiary of Force Motors. The company had previously provided intimations regarding this acquisition on February 4, 2026, and February 6, 2026, and confirmed that all necessary disclosures under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, have been furnished.
Key Highlights
- Force Motors completed the acquisition of Veera Tanneries Private Limited.
- The total acquisition cost was \u20b9161.96 crore.
- Veera Tanneries is now a wholly-owned subsidiary of Force Motors.
- The Share Purchase Agreement was signed on April 23, 2026.