HARMONY CAPITAL SERVICES LTD.: ACQUISITION OF MAJORITY STAKE IN TRUVOLT ENGINEERING

• Board approved acquisition of 63,23,700 equity shares of Truvolt Engineering Co Pvt Ltd, representing approx 51% stake. • Proposed preferential issue of up to 1,26,47,400 equity shares of Harmony Capital at ₹66/share to Truvolt shareholders. • Total consideration for acquisition is ₹83,47,28,400, discharged via share swap. • Independent valuation reports set Harmony Capital shares at ₹66 and Truvolt Engineering shares at ₹132. • Swap ratio determined as 1:2 (two Harmony shares for one Truvolt share).

Harmony Capital Service Ltd

Open attachment

← Back to feed