Harmony Capital to Acquire 51% of Truvolt Engineering via Share Swap

Harmony Capital Service Ltd announced that its Board of Directors has approved the acquisition of up to 63,23,700 equity shares, representing approximately 51% of Truvolt Engineering Co Private Limited, through a share swap arrangement. This transaction will make Truvolt Engineering a subsidiary of Harmony Capital. The Board also approved the issuance of up to 1,26,47,400 equity shares at ₹66 per share via preferential issue for consideration other than cash, aggregating to ₹83,47,28,400. Additionally, the Board approved unaudited financial results for the quarter ended June 30, 2026, and independent valuation reports for both companies involved in the transaction.