Crompton Greaves Consumer Electricals completes 55% acquisition of Butterfly Gandhimathi Appliances

31 Mar 2022 , 01:40 PM

Crompton Greaves Consumer Electricals Limited updated the exchanges on disclosure dated March 25, 2022 in connection with the acquisition of 98,33,754 equity shares of Butterfly Gandhimathi Appliances Limited (Target Company) representing 55.00% of the equity share capital of Target Company (Sale Shares) by the company through the stock exchange settlement process.

The Sale Shares have been transferred to Crompton’s demat account on March 30, 2022 and Crompton can exercise voting rights in relation to the same.

Crompton has acquired sole control over the Target Company w.e.f. March 30, 2022 and has become the promoter of the Target Company.

At around 1.42 pm, Crompton Greaves Consumer Electricals Ltd was trading at Rs374.35 per share up by Rs2.15 or 0.58% from its previous closing of Rs372.20 per share on the BSE.