HBL Power to buy equity stake in Agile Electric
MUMBAI: HBL Power Systems Ltd has informed BSE that the board of directors has resolved to execute a share subscription-cum-purchase agreement for the purpose of acquisition of shares of Agile Electric Drives Technologies and Holdings Pvt Ltd (Agile Elec tric) by way of subscription as well as purchase of outstanding equity shares of Agile Electric from the existing shareholders.
According to HBL Power, the subscription and purchase of equity shares of Agile Electric will result in a change in control arising out of majority ownership of Agile Electric by HBL Power. — Our Bureau
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