Acquisitions23 Mar 2026, 01:02 pm
Remsons Industries Ltd to Sell Stake in Astro Motors and Acquire Remsons Edge Technologies
AI Summary
Remsons Industries Ltd announced that its Board of Directors approved the sale of its entire stake in Astro Motors Private Limited (AMPL) and the acquisition of the remaining 49% equity shares of Remsons Edge Technologies Private Limited (RETPL). The sale of stake in AMPL is for a lump sum consideration of Rs. 10,00,00,000/- (Rupees Ten Crore only), post which AMPL will cease to be an Associate of the Company. The acquisition of RETPL will make it a Wholly Owned Subsidiary of the Company. The transactions are subject to necessary approvals and compliance with regulations.
Key Highlights
- Remsons Industries Ltd to sell its entire stake in Astro Motors Private Limited for a consideration of Rs. 10,00,00,000/-
- Post sale, Astro Motors Private Limited will cease to be an Associate of Remsons Industries Ltd
- Remsons Industries Ltd to acquire the remaining 49% equity shares of Remsons Edge Technologies Private Limited
- Upon completion of the acquisition, Remsons Edge Technologies Private Limited will become a Wholly Owned Subsidiary of Remsons Industries Ltd
- The transactions are subject to necessary approvals and compliance with regulations