Prudential Sugar Corporation Ltd to enter into Two Wheeler and Three Wheeler Electric Vehicle Segment

Prudential Sugar Corporation Limited has entered into a Memorandum of Understanding with Senatla EV Products Private Limited, Senatla Innovative EV Components Private Limited and two others for subscribing and acquiring 76% Equity stake valued at Rs.4.00 Crores approx., in Senatla Innovative EV Components Private Limited which is presently engaged in manufacturing and sale of Electric Two Wheelers and Electrical Three Wheelers.

Senatla EV Products Private Limited, the Promoter of Senatla Innovative EV Components Private Limited presently hold the entire equity of Rs.1.00 Crores in the Company.

Senatla Innovative EV Components Private Limited now proposes to achieve a turnover of Rs.5 Crores per month by March, 2026 and Rs.10 to 15 Crores per month by March, 2027.

Senatla Innovative EV Components Private Limited has setup a vast sales and distribution network in the State of Telangana, Andhra Pradesh and Tamil Nadu and proposed to further expand its capacities.

Upon completion of acquisition of 76% Equity by Prudential Sugar Corporation Limited, as per the Memorandum of Understanding, Senatla Innovative EV Components Private Limited will become 76% subsidiary of Prudential Sugar Corporation Limited and the balance 24% will continue to be held by the Original Promoter, Senatla EV Products Private Limited and their Promoters.

Shares of Prudential Sugar Corporation Limited was last trading in BSE at Rs. 36.00 as compared to the previous close of Rs. 38.31. The total number of shares traded during the day was 4696 in over 118 trades.

The stock hit an intraday high of Rs. 38.35 and intraday low of 35.55. The net turnover during the day was Rs. 174887.00.

Source : Equity Bulls

Keywords

PrudentialSugarCorporation INE024D01016 Investment SenatlaEVProducts SenatlaInnovativeEVComponents TwoWheelers ThreeWheelers