Salzer Electronics incorporates wholly-owned subsidiary 'Salzer EV Infra'

The incorporation is for the purpose of the proposed engagement in the new business through JV Company of manufacturing electric conversion kits for auto-rickshaws, cars and buses.

Jul 23, 2021 02:07 IST India Infoline News Service

Salzer Electronics Ltd has informed that the company has incorporated “SALZER EV INFRA PRIVATE LIMITED”, a Wholly-Owned Subsidiary Company for the purpose of the proposed engagement in the new business through JV Company of manufacturing electric conversion kits for auto-rickshaws, cars and buses and also manufacture novel electric driven utility vehicles.

SALZER EV INFRA PRIVATE LIMITED, a wholly owned subsidiary Company formed by Salzer Electronics with initial authorized share capital of Rs10,00,000 comprising of 1,00,000 equity shares of Rs.10/- each.

According to the regulatory filing, the new wholly subsidiary company was incorporated with an objective of Manufacturing / Trading of all kind of components / systems including development, Manufacturing of software, Components for Electric vehicles of all kinds in India or aboard and making downstream investments in the such JV Companies engaged in the similar line of business.

At around 2:32 PM, Salzer Electronics was trading at Rs173.50 apiece down by Rs3.4 or 1.92% on Sensex.

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