Board of Gensol Engineering approves acquisition of majority stake in Gensol Electric Vehicles

24 Aug 2022 , 01:33 AM

The Board of Gensol Engineering at its meeting held on 19 August 2022 has approved acquisition of majority stake in Gensol Electric Vehicles which would further acquire technical and business know-how patents trademark and brand name related to electric vehicles from US based company The Board also approved increase in authorised share capital from Rs 1250 crore to Rs 15 crore The Board approved the allotment of up to 1351030 equity shares of Rs 10 each to persons belonging to Promoter Promoter Group Category and Non-Promoter Category on preferential basis at an issue price of Rs 103625 aggregating up to Rs 140 crore