HFCL’s wholly owned subsidiary -- HFCL B.V. has acquired 100% stake in Blue Diwali Sp. z.o.o., a company registered in state of Warsaw, Poland, in order to boost export market share for Optical Fiber Cable (OFC) business and to strategically position itself within the EU region to capitalise business opportunities. Consequently, Blue Diwali Sp. z.o.o., has become a wholly owned subsidiary of HFCL B.V. and also a step-down wholly owned subsidiary of the Company. The Acquisition has been completed on May 17, 2024.
Blue Diwali Sp. z.o.o. was incorporated inter-alia to carry on the business of manufacturing and trading of Optical Fiber, Optical Fiber Cables, Telecom and Networking Products and other allied activities. The acquisition will facilitate the Company's expansion endeavors in the EU region, augmenting its business presence and fostering growth opportunities.
HFCL is a leading telecom infrastructure developer, system integrator and manufacturer of high-end telecom equipment and optical fibre cables, having its own manufacturing facilities at Solan and Goa, and its subsidiary i.e. HTL facilities in Chennai and Hosur.
