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, aggregating ₹83,47,28,400, on a preferential basis to Truvolt's existing shareholders as consideration for the share swap. Additionally, the company approved its unaudited financial results for the quarter ended June 30, 2026, along with the limited review report. Independent valuation reports for both companies were also taken on record.