Pursuant to Regulation 30 read with Schedule III of the Listing Regulation, Varroc Engineering has informed that the company, along with its wholly-owned subsidiary VarrocCorp Holding B.V. Netherlands, have entered into a Securities Purchase Agreement with Compagnie Plastic Omnium Se, France for divestment of the 4-Wheeler Lighting Business of the Company in the Americas and Europe. The proposed divestment was approved by the Board of Directors of the Company in its meeting held on April 28, 2022. Further, the company informed that the Board of Directors also gave its in-principle approval for the formation of a Wholly Owned Subsidiary in India for pursuing R&D activities. The disclosure as required under Schedule III of the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 is attached as Annexure ‘I’ & 'II' to this letter.
The above information is a part of company’s filings submitted to BSE.
