V-Guard Industries to acquire balance 26% stake in subsidiary Guts Electro-Mech; Stock up 1%

28 Jul 2022 , 10:42 AM

V-Guard Industries Ltd has informed that the Board of Directors at their meeting held on July 27, 2022 has approved the proposal for acquisition of balance 26% of equity shares of Guts Electro-Mech Ltd., Subsidiary Company by making call option in accordance with the Share purchase and Subscription Agreement dated August 31, 2017.

According to the regulatory filing, Guts Electro-Mech Ltd. is a subsidiary etc. of the Company in which the Company is presently holding 74% equity investment. The subsidiary is engaged in the business of manufacture and supply of MCB & RCCB, the company said.

At around 10:43 AM, V-Guard Industries was trading at Rs227.10 per share up by Rs3 or 1.34% from its previous closing of Rs224.10 per share on the BSE.