Wonder Electricals has received approval from board of directors to acquire manufacturing business (excluding immovable properties and investments) of Uttaranchal Industries (The Partnership Firm).
The consideration for such acquisition will be discharged by the Company by issuance of 23,42,665, 5% Non- convertible, Non- participating and Non-Cumulative Redeemable Preference shares having face value of Rs 100 each, as per the terms and conditions mentioned in the Business Transfer Agreement (BTA) to be executed between the Company and the Partnership Firm. The acquisition of Business shall be subject to the approval of Shareholders of the Company.
The Company and the Partnership Firm both are engaged in the same kind of business activities and having common management. The management believes that consolidation of business of both the entities would lead to combination of resources of the Company and the Partnership Firm which ultimately would result in synergy benefits from finance and commercial perspective. The Board of Directors of the Company, in their meeting held on August 30, 2023, based on the approval of the Audit Committee, has considered and approved the same.
Wonder Electricals is engaged in manufacturing, supplying, designing of motors, home appliances, energy-efficient fans and allied equipment.
| Company Name | CMP |
|---|---|
| LG Electronics India | 1578.40 |
| Dixon Technologies | 11374.00 |
| IFB Industries | 1116.00 |
| Honeywell Automation | 32808.35 |
| Elin Electronics | 119.75 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: