CG Power and Industrial Solutions’ wholly owned subsidiary -- Axiro Semiconductor (Axiro) has completed the acquisition of 5,00,000 equity shares of the face value of Rs 10 each, representing 100% of the subscribed and paid-up equity share capital of Tosil Systems, for a consideration of Rs 16.44 crore. Consequently, Tosil has become a wholly owned subsidiary of Axiro under Section 2(87) of the Companies Act, 2013.
CG Power and Industrial Solutions is an engineering conglomerate with an impressive and diverse portfolio of products, solutions and services for Power and Industrial equipment and solutions, addressing myriad needs.
