Salzer Electronics Limited Subscribes Shares in JV Company Becomes Subsidiary

Salzer Electronics Limited, a leading player in the electric vehicle charging solutions market, has subscribed 290,000 equity shares of Rs.10/- each on December 28, 2023, for a consideration of Rs.29,00,000/- in JV Company, leading to an increase in its shareholding percentage to 60% and making the JV Company a subsidiary of the company. This development is in line with the Joint Venture agreement and is subject to change as other JV partners attempt to acquire equity shares in the JV Company.,