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| Exchange Received Time 05/11/2019 16:18:26 Exchange Disseminated Time 05/11/2019 16:18:32 Time Taken 00:00:06 | Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the Board of Directors of the Company has given an in-principle approval with respect to the acquisition of 18.77% stake in one its subsidiary companies i.e. Ampere Vehicles Private Limited, India ("Ampere") through secondary purchase for a total consideration not exceeding
Rs. 60 crores (including commitment fees and non-compete fees not exceeding Rs. 20 crores), subject to execution of the definitive agreements and customary closing conditions. Pursuant to the completion of the aforesaid acquisition, Ampere will become a wholly owned subsidiary of the Company. |
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