Nelco has received in principle approval for sale of its entire investment of 2,53,665 equity shares representing 12.30% in equity share capital of Nelito Systems at a consideration of Rs 6.77 crore to DTS Corporation, Japan (DTS). The Board of Directors of the Company at its meeting held on March 27, 2019 has approved the same.
Nelco was established in 1940 and is a part of the leading business house - the Tata group. The company is focused on system integration and product management for industrial controls, power, electronics, defence electronics, VSAT networks and automation.
