Himachal Futuristic Communications (HFCL) has acquired 160,000 equity shares of Polixel Security Systems (Polixel). The total equity holding of the company in Polixel has reached up to 94%, accordingly Polixel has become the subsidiary of the company with effect from August 09, 2016. The equity shares have been purchased at a price of Rs 687.50 per share aggregating to Rs 11 crore.
This acquisition would result in benefit of operational synergies and company will be able to explore untapped high growth in electronics surveillance & electronic security business and monitoring system etc.
HFCL is engaged in the manufacturing of telecom equipments and provides turnkey services. The manufacturing facilities of the company are located in Solan, Himachal Pradesh (assembly line), and Salcete, Goa (optical fibre cables).
| Company Name | CMP |
|---|---|
| Vindhya Telelinks | 1281.70 |
| HFCL | 98.08 |
| Pace Digitek | 175.30 |
| Bondada Engineering | 370.00 |
| GTL Infrastructure | 1.21 |
| View more.. | |
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