Gulf Oil Lubricants India Ltd to Acquire Additional 14.18% Stake in Subsidiary Tirex Transmission Private Limited

Gulf Oil Lubricants India Ltd has approved the acquisition of an additional 14.18% stake in its subsidiary, Tirex Transmission Private Limited. The acquisition will cost approximately 38.09 Crores and will increase the company's stake in Tirex to 65.18%. Tirex is primarily engaged in the business of manufacturing and selling DC chargers. The acquisition is part of a strategic investment initiative and is expected to be completed within 2-3 months through normal banking channels.