V-Guard Industries’ Board has approved the acquisition of a minority stake (18.77%) in Gegadyne Energy Labs (GEL) for a cash consideration of Rs. 33.4 crore.
V-Guard envisages start-up collaboration as one of the routes to participate in emerging technologies and building product capabilities for fueling future growth. GEL investment is a stepping-stone in this direction and signifies V-Guard's willingness to move into cutting edge technology space and its growing focus on creating disruptions in established businesses. V-Guard foresees potential in GEL's alternative battery technology for various primary applications like DUPS / Energy storage in addition to secondary applications in other products of its existing portfolio.
V-Guard industries manufactures a range of products namely voltage stabilizers, pumps, electric water heaters, solar water heaters, cables, UPS, ceiling fans, etc.
| Company Name | CMP |
|---|---|
| Havells India | 1224.85 |
| Siemens | 3495.20 |
| Apar Industries | 14141.30 |
| ABB India | 6977.75 |
| Waaree Energies | 2841.50 |
| View more.. | |
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