Quality Power Electrical Equipments Ltd Subsidiary to Increase Investment in Nebeskie Labs Private Limited

Quality Power Electrical Equipments Ltd announced the execution of Share Holders’ Agreement and Share Subscription Agreement in relation to increase in investment from 14.5% to 26% in Nebeskie Labs Private Limited by its subsidiary, Quality Power Engineering Projects Private Limited. Nebeskie Labs Private Limited is a technology company focused on industry, infrastructure, mobility, and utility, building IloT edge technologies for efficient factories, buildings, and smart cities. The proposed acquisition does not fall within the purview of related party transaction(s) and the acquirer is currently holding 14.5 % shareholding in the Target Company. The transaction will be completed within 60 days from the date of Execution of the Agreements with a cash consideration of INR 1,67,44,320/- (Rupees One Crore Sixty Seven Lacs Forty Four Thousand Three Hundred & Twenty Only) which has premium of Rs. 5498 per equity share and face value of Rs.10/- each.