Centum Electronics to further invest in Centum Adetel Group (CAG) SA
India Infoline News Service |
10 Nov, 2022 |
Centum Electronics Ltd has informed that the Board of Directors at their Meeting held on Thursdsay have approved the proposal for further investment in Centum Adetel Group (CAG) SA.
As per the filing, with the proposed investment, Centum Electronics Limited (the Company) stake in CAG will increase from the current level of 77.77% to 90.1%. Further, the above investment will be done through Centum Electronics UK Limited, a wholly owned subsidiary of the Company, subject to necessary approvals, the company said.
Further, the purpose of new entity is to design development and industrialization of embedded electronic systems for different sectors such as transportation, aerospace, medical and energy sectors.
At around 9:16 AM, Centum Electronics Ltd is currently trading at Rs620.25 per share down by Rs51.1 or 7.61% from its previous closing of Rs671.35 per share on the BSE.
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