UCAL has received an approval for acquisition up to 49% of the equity share capital of Avironix (Target Company). The Board of Directors of the Company at their meeting held on February 14, 2024, has approved the same.
The decision to invest in Avironix, a specialized drone company, aligns with its goal to diversify and capitalize on emerging opportunities. The cost of acquisition is Rs 85,750 and it is expected to complete on or before February 28, 2024.
Ucal is in the business of providing holistic solutions in fuel management systems and is committed to producing products of consistent quality and timely delivery.
