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V-Guard Industries gets nod for acquisition of minority stake in Gegadyne Energy Labs

15 Jan 2021 Evaluate

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.

Peers
Company Name CMP
Waaree Energies 2401.45
Apar Industries 17622.45
Havells India 1066.65
Suzlon Energy 39.59
Siemens 3794.30
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