HFCL has signed a Share Subscription and Shareholders' agreement on March 15, 2021, with Nimpaa Telecommunications. In terms of the agreement, the company intends to acquire up to 50% of the paid-up equity share capital (on a fully diluted basis) of Nimpaa, in one or more tranches, by way of subscribing its equity shares. The Company is acquiring stake in Nimpaa, keeping in line with thrust on addition of new telecom network products in the field of communications, specifically Aramid Reinforced Plastic (ARP) rods.
HFCL is a leading telecom infrastructure developer, system integrator and manufacturer of high-end telecom equipment and optical fibre cables, having its own manufacturing facilities at Solan and Goa, and its subsidiary i.e. HTL Limited facilities in Chennai and Hosur.
