India Motor Parts & Accessories has received approval from its board to make further investment in CAPL Motor Parts (CAPL), a subsidiary company, by way of purchase of remaining 5 lakh equity shares of CAPL (representing 10% of equity share capital of CAPL) from the existing shareholders of CAPL. On completion of the said purchase, the company’s shareholding in CAPL would increase from 90% to 100% and CAPL would become a wholly owned subsidiary of the company. The inductive time period of the acquisition is by November 30, 2022. The cost of acquisition is Rs 1.41 crore.
India Motor Parts & Accessories is one of the largest all India distributors for automobile spare parts.