Symphony has completed the acquisition subject to customary conditions subsequent on July 5, 2018. The acquisition is effective from July 1, 2018. Climate Technology’s (Acquired Company) nine months (July 1, 2018 to March 31, 2019) financials will be consolidated with Symphony during current financial year 2018-19.
On June 22, 2018, the company had entered into a Share Sale Agreement, to effectively purchase 95% equity stake in Climate Technologies through a new incorporated subsidiary Company viz. Symphony AU, Australia.
Symphony manufactures products like domestic air coolers, industrial air coolers, and water heaters.
