Sharika Enterprises has received approval for the acquisition of 60% stake in Contronics Switchgear India to make it a subsidiary of the Sharika Enterprises. The objective of acquisition is to expand its product portfolio by adding the expertise of Contronics Switchgear India in electrical panel manufacturing.
The process for acquisition of stake has been initiated and will be completed within a reasonable period. The Board of Directors of the Company at their meeting held on June 28, 2024, has approved the same.
Sharika Enterprises operate in the infrastructure sphere in India focusing on the power sector and work with international and Indian power equipment manufacturers and involved in project management/EPC contractors.
