Olectra Greentech has subscribed for 3,400 equity shares (34% stake) of Rs 10 each in the newly incorporated company ‘Evey Trans (MSR)’. Cost of acquisition is Rs 34,000.
Olectra Greentech in association with Evey Trans had incorporated ‘Evey Trans (MSR)’, with the Registrar of Companies, Hyderabad on July 14, 2023. The Associate Company will be into the business of owning, operating and/or leasing of Electric Vehicles (specifically for executing the contract with MSRTC as a 'Special Purpose Vehicle' in terms of the tender conditions).
Olectra Greentech is primarily engaged in the manufacturing of composite polymer insulators and electrical buses.
