Sundaram Finance Holdings has completed the process of acquisition of 61,58,208 equity shares of Rs 10/- each representing 24.16% in the paid-up equity share capital of Axles India, from the foreign promoter Dana Global Products Inc., for a total consideration not exceeding Rs 182.68 crore.
The shareholding of the company in Axles India, increased to 62.98% from the existing 38.82%, resulting in Axles India becoming a Subsidiary of the company.
Sundaram Finance Holdings (SFHL), formerly Sundaram Finance Distribution Limited, is an associate of Sundaram Finance.
