Axiro Semiconductor Completes Acquisition of Tosil Systems, Making it a Wholly Owned Subsidiary
CG Power and Industrial Solutions Limited has confirmed that its subsidiary, Axiro Semiconductor Private Limited, successfully completed the acquisition of all shares in Tosil Systems Private Limited. The transaction involves CG Power's subsidiary acquiring 100% of Tosil’s equity.Axiro Semiconductor Private Limited executed the purchase agreement for the entirety of Tosil Systems Private Limited (Tosil). The acquisition involved purchasing 5,00,000 equity shares of Tosil, which have a face value of Rs. 10/- each. The total consideration paid for this acquisition amounted to Rs. 16.44 Crores.
Following the completion of the purchase, Axiro has established Tosil Systems Private Limited as a Wholly Owned Subsidiary under Section 2(87) of the Companies Act, 2013.
CGPOWER Stock Price Movement
Shares of CG Power and Industrial Solutions Limited are edging higher to ₹867.60 as of 11:36 AM, bolstered by a gain of 0.53% in live trading. The equity shows robust activity, with 886,561 shares traded so far in the market session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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