Remsons Industries Acquires 55% Stake in Remsons-Uni Autonics Private Limited for INR 1 Crore 20 Lakh, Becomes Subsidiary

Remsons Industries Limited recently held a board meeting where they approved the acquisition of up to 55% stake in Remsons-Uni Autonics Private Limited from its current promoters for INR 1 Crore 20 Lakh. After this acquisition, Remsons-Uni Autonics Private Limited will become a subsidiary of Remsons Industries. The company also approved the acquisition of Intellectual Property Rights from one of the promoters, and subscribed to Optionally Convertible Preference Shares offered by Remsons-Uni Autonics for INR 11 Crores 5 Lakhs 5 Thousand. The target entity, Remsons-Uni Autonics, is in the automotive sensor business to address global market requirements for sensors and products with embedded sensors in the automotive & off-highway sector.