Cummins India has received approval for the sale of 100% stake in its wholly owned subsidiary - Cummins Sales & Service (CSSPL), to PAL SVAM Power Solutions (the ‘Buyer’) for a total sale consideration of Rs 56.50 crore. The Board of Directors of the company, at their meeting held on February 07, 2025, has approved the same.
Also, the company, CSSPL and the Buyer have entered into share purchase agreement (SPA) on February 07, 2025. Upon completion of transfer of 100% shares of CSSPL to the Buyer in accordance with the SPA, CSSPL shall cease to be a wholly owned subsidiary of the company effective on April 01, 2025.
Cummins India is engaged in the business of manufacturing, trading and selling of engines and allied activities.
