DRC Systems India Ltd to invest in Auto OAP B.V., Netherlands

The Board of Directors of DRC Systems India Limited at its meeting held today i.e. January 19, 2022 has, considered and approved proposal to make overseas investment for acquiring 2.3% stake of Auto OAP B.V., Netherlands, at a total cash consideration of Eur 16,76,700. This acquisition does not classify as a Related Party Transaction and no governmental or regulatory approvals are required. The Promoter / Promoter Group has no interest in the entity with which said transaction is entered into. AutoDAP B.V. is a high growth Company with excellent management team based out of Netherlands. Right now, our Company explores business mainly from North America, Middle East and other regions. As a part of international expansion plans and with this investment, our Company is expecting more business opportunities from existing clients of AutoDAP B.V., their associates and partners and will have foot prints in other European countries especially like Germany, Netherlands, Switzerland and France.

AutoDAP B.V. (ADAP) is a Smart Data product company in the Automotive Aftermarket arena. ADAP is an innovative product company which simplifies vehicle identification by providing VIN precise vehicle information, enabling exact parts identification along with extended vehicle data. The platform provided by ADAP augment the data to provide intelligence which enables users to make a profitable business decision.

Source : Equity Bulls

Keywords

DRCSystemsIndia OverseasInvestment AutoDAPBV