Maithan Alloys Acquires HFCL Shares Worth ₹20.14 Cr

Maithan Alloys Limited has acquired 765,000 equity shares of HFCL Limited through the stock exchange, representing 0.05% of the total shareholding. The total cost of acquisition amounted to ₹20.14 Crore. This acquisition is part of Maithan Alloys' investment strategy for long-term/short-term benefits, and the company does not intend to acquire control over HFCL's management. HFCL Limited is a technology enterprise operating in Telecom, Defence Equipment, Optical Fiber, and related services. The acquisition does not involve related party transactions, and the purchase was made at arm's length. No governmental or regulatory approvals were required for this transaction.