Acquisitions28 Sept 2024, 10:38 pm
Kaynes Technology India Ltd Acquires Iskraemeco India Private Limited for INR 42,98,59,750
AI Summary
Kaynes Technology India Ltd has approved the acquisition of 100% (One Hundred Percent) of share capital of Iskraemeco India Private Limited held by Iskraemeco Holding Switzerland A.G. and Iskraemeco Merjenje IN Upravljanje Energije, D.D. The acquisition will be completed for a total sale consideration of INR 42,98,59,750 (Indian Rupees Forty-Two Crore Ninety-Eight Lakh Fifty- Nine Thousand Seven Hundred and Fifty only).
Key Highlights
- Iskraemeco India Private Limited is engaged in the business of supply, installation, operations and maintenance of smart meters in India with a turnover of INR 65.42 Cr. for the Financial Year ending March 31, 2024.
- The acquisition will increase Kaynes Technology India Ltd’s product line and service offerings to customers.
- The acquisition is a cash consideration of INR 42,98,59,750 (Indian Rupees Forty-Two Crore Ninety-Eight Lakh Fifty-Nine Thousand Seven Hundred and Fifty).
- The acquisition is expected to be completed within 30 days from the execution of the Share Purchase Agreement.