Automotive Axles to acquire 26% stake in Parola Renewables

08 Feb 2022 Evaluate

Automotive Axles is planning to acquire 26% stake in ‘Parola Renewables’. This investment is for the company to avail solar power from Parola Renewables for its units situated at Hootagalli Industrial Area, Off Hunsur Road, Mysore. The cost of acquisition will be Rs 2.40 crore. Time period for completion of the acquisition is on or before June 30, 2022.

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

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