Kaycee Industries has completed the acquisition of 30% stake on a fully diluted basis in Ultrafast Chargers for a cash consideration of Rs 8 crore. Ultrafast Chargers, a start-up firm based out of Bangalore, engaged in making High - End DC Fast Charging Station for the electric vehicles in India. As the result of acquisition, Ultrafast Chargers has become an associate entity of Kaycee Industries.
Kaycee Industries is an integral part of CMS Computers, one of the largest IT firms in India.