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Endurance Technologies gains on acquiring additional stake in Maxwell Energy Systems

18 Jul 2023 Evaluate

Endurance Technologies is currently trading at Rs. 1708.40, up by 8.95 points or 0.53% from its previous closing of Rs. 1699.45 on the BSE.

The scrip opened at Rs. 1704.85 and has touched a high and low of Rs. 1714.30 and Rs. 1696.90 respectively. So far 147 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1738.35 on 17-Jul-2023 and a 52 week low of Rs. 1171.60 on 28-Mar-2023.

Last one week high and low of the scrip stood at Rs. 1738.35 and Rs. 1650.45 respectively. The current market cap of the company is Rs. 23911.98 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 23.19% and 1.81% respectively.

Endurance Technologies has acquired additional 5% equity stake in Maxwell Energy Systems (Maxwell) thereby increasing its shareholding to 56%. This additional stake has been acquired for a cash consideration of Rs 6.94 crore, based on agreed valuation methodology as per the terms of Share Subscription and Purchase Agreement dated May 18, 2022 (SSPA).

The key focus of Maxwell is on designing and developing advanced electronics platforms targeted towards next-gen mobility and energy storage solutions. Endurance plans to leverage Maxwell’s deep technical expertise and its BMS deployment experience both in India and Europe. It is expected that, as a preferred tier-1 auto component supplier, the Company will effectively leverage its business relationships to further grow the acquired business with its OEM customers.

In the second tranche that concluded on July 17, 2023, the Company has completed acquisition of 5% equity stake in Maxwell. This is in addition to 51% acquired on July 01, 2022. Balance 44% equity stake in Maxwell shall be purchased in a phased manner in annual tranches, spread over the next four financial years.

Endurance Technologies is among one of the largest auto-components companies in India.


Endurance Tech Share Price

2380.60 -9.05 (-0.38%)
17-Apr-2026 16:59 View Price Chart
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