Suprajit Engineering has received its board’s approval for merger of Phoenix Lamps with the company in the ratio of 4:5.
Phoenix Lamps is the subsidiary of Suprajit Engineering wherein Suprajit currently owns 61.93% of Phoenix equity shareholding. The merger ratio has been set at 4 shares of (Re 1 each) Suprajit for every 5 shares of (Rs 10 each) Phoenix in line with SEBI regulations.
Post merger, Phoenix Lamps will operate as a separate division of Suprajit Engineering and will continue to market itself under the brand of ‘Phoenix’.
Suprajit Engineering is India's largest automotive cable maker with a planned annual cable capacity of 225 million cables. The company’s customer list includes most Indian automotive majors. It also exports to many marquee global customers.
