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India Motor Parts & Accessories gets nod to make further investment in CAPL

06 Oct 2022 Evaluate

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.

Peers
Company Name CMP
Redington 358.60
Adani Enterprises 2736.00
Amrapali Industries 34.77
Maxgrow India 178.35
Rashi Peripheral 697.90
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