ZF Steering Gear India's subsidiaries allotted industrial land by MIDC

14 Jul 2022 , 11:21 AM

ZF Steering Gear (India) Limited has informed to the exchanges regarding acquisition of industrial land by wholly-owned subsidiaries of the company.

According to the regulatory filing, the company had formed two Wholly Owned Subsidiaries to acquire Industrial Land. The Industrial Land has been allotted by the Maharashtra Industrial Development Corporation (MIDC), Nashik, in MIDC industrial area situated at Supa Parner Industrial Park, District Ahmednagar, Maharashtra to both the Wholly Owned Subsidiaries of the Company DriveSys Systems Private Limited and NexSteer Systems Private Limited.

Both the Companies have accepted terms and conditions for the proposed allotment and are in a process to complete formalities for acquisition of the industrial land, the company said.

At around 11:23 AM, ZF Steering Gear was trading at Rs479.95 per share higher by 0.11% as against previous clsoing of Rs479.40 per share on the BSE.