V-Guard Industries’ board has approved the proposal for acquisition of balance 26% of equity shares of Guts Electro-Mech, Subsidiary Company by making call option in accordance with the Share purchase and Subscription Agreement dated August 31, 2017. Transaction is proposed to be completed on or before September 15, 2022.
The cost of acquisition for the 26% equity stake as per the Share purchase and subscription agreement dated August 31, 2017 is Rs 6.2 crore. The Board of Directors at their meeting held on July 27, 2022, has approved the same.
V-Guard Industries manufactures a range of products namely voltage stabilizers, pumps, electric water heaters, solar water heaters, cables, UPS, ceiling fans, etc.
