Gensol Engineering Ltd invests in Electric Vehicles subsidiary

The company has subscribed 1,37,935 (One Lakhs Thirty-Seven Thousand Nine Hundred Thirty-Five) Equity Shares which is 58.08% of total share capital of the Company by investing Rs. 3,50,35,490.00 in Gensol Electric Vehicles Private Limited ("The target company") having CIN: U34100PN2022PTC212856, by virtue of this transaction, the target Company will become the subsidiary company of the Gensol Engineering Limited.

With view to enter into Electric Vehicles Manufacturing Facility and accordance with business strategy of the company, the Company has invested and acquired 58.08 % Equity of Gensol Electric Vehicles Private Limited.

Shares of Gensol Engineering Ltd was last trading in BSE at Rs. 1003.05 as compared to the previous close of Rs. 1017.20. The total number of shares traded during the day was 19532 in over 198 trades.

The stock hit an intraday high of Rs. 1046.90 and intraday low of 977.00. The net turnover during the day was Rs. 19624932.00.

Source : Equity Bulls

Keywords

GensolEngineering INE06H201014 Investment GensolElectricVehicles EV Subsidiary