Paramount Communications (PCL) has received approval for the acquisition of 1,93,996 equity shares of Valens Technologies (VTPL) from its existing shareholders.
This acquisition will give PCL a distinct advantage with their customers where PCL can offer bundled products. It also gives PCL a strong position in the telecom business while also adding market and product diversity in terms of Water pipeline business where VTPL enjoys a strong reputation. The Board of Directors of the Company at their meeting held on August 23, 2023, has approved the same.
Paramount Communications, part of the Paramount group of companies, is one of India's leading wire & cable manufacturing companies.
