Olectra Greentech acquires 26% stake in Electric Vehicles SPV

11 Feb 2022 , 04:05 PM

Olectra Greentech Limited has acquired 2,600 equity shares (26% stake) of Rs101 each aggregating to Rs26000 in ‘Evey Trans (BLR) Private Limited’ which is registered with the Registrar of Companies, Bangalore.

This Company has been incorporated on February 9, 2022, and will be in the business of owning, operating, and/or leasing Electric Vehicles.

“The Associate Company will be into the business of owning, operating, and/or leasing of Electric Vehicles (especially for one of the contracts awarded to the consortium (where the / Company and EVEY were members) as Special Purpose Vehicle in terms of the tender conditions),” company said in a filing on Thursday.

Olectra Greentech Limited stock trade on Friday ended at Rs783.00 per share down Rs6.55 or 0.83% on the BSE.