Automotive Axles planning to acquire stake in Suryaurja One

21 Jan 2022 Evaluate

Automotive Axles is planning to acquire equity shares in ‘Suryaurja One’. Suryaurja One is engaged in solar power generation. As a strategic investment, the company will acquire 12,00,000 number of equity shares at a price of Rs 10 per share. 

This investment is for the company to avail solar power from Suryaurja One for its units situated at Hootagalli Industrial Area, Mysore, Karnataka. Indicative time period for completion of the acquisition on or before May 31,2022. 

Automotive Axles is India’s largest independent manufacturer of commercial truck axles for a broad range of vehicle applications.

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