Sundaram Finance Holdings has completed the acquisition of shares in M/s Transenergy. Consequent to the above acquisition, the Company’s percentage of shareholding in M/s Transenergy has increased to 42.41% from 26.41%.
Earlier, the company had received approval from board of directors for further acquisition of 72,713 equity shares of Rs 100 each constituting 16% of the total paid-up capital in M/s Transenergy for a total consideration of Rs 6.21 crore (excluding stamp charges, taxes and other expenses, as applicable). Out of 72,713 equity shares, the company is planning to acquire 31812 equity shares (7%) from M/s India Motor Parts & Accessories and 40901 equity shares (9%) from M/s Lumiere Coolants.
Sundaram Finance Holdings is involved in the business of making all types of investments, including investments in financial service enablers, Fin-tech investments and Small Startup Type (incubator) investments, as well as to engage in the business of BPO, consultants.
