Olectra Greentech Acquires Additional Shares in Evey Trans (MAH) Private Limited for Rs. 17,93,74,000

Olectra Greentech Limited has acquired 1,79,37,400 additional equity shares in Evey Trans (MAH) Private Limited for a consideration of Rs. 17,93,74,000. The acquisition is aimed at implementing a project and maintaining Olectra's current holding of 26%, which will act as a Special Purpose Vehicle for executing a contract with BEST. The transaction is not a related party transaction and there are no governmental or regulatory approvals required for the acquisition. As of now, Olectra Greentech holds a total of 1,79,40,000 equity shares, amounting to a 26% stake in Evey Trans (MAH) Private Limited. Evey Trans is into the business of owning, operating, and/or leasing electric vehicles in India.