Acquisitions16 Jul 2026, 10:40 pm
Harmony Capital Approves Truvolt Acquisition & Share Swap
AI Summary
Harmony Capital Service Ltd announced board approval for the acquisition of up to 51% stake in Truvolt Engineering Co Private Limited via a share swap. This move will make Truvolt a subsidiary of Harmony Capital. The company also approved the issuance of up to 1,26,47,400 equity shares at ₹66 each for consideration other than cash, aggregating ₹83.47 crore. The board also took on record independent valuation reports for both companies in relation to the acquisition and preferential issue. The unaudited financial results for the quarter ended June 30, 2026, were also approved.
Key Highlights
- Board approved acquisition of 51% in Truvolt Engineering via share swap.
- Truvolt Engineering will become a subsidiary post-acquisition.
- Approval for preferential issue of 1.26 crore shares at ₹66 each.
- Unaudited financial results for Q1 FY27 approved.
- Independent valuation reports for acquisition and share issue taken on record.
Price Impact
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