Classic Electrodes (India) Limited Increases Stake in HM Power and Cables Private Limited
Classic Electrodes (India) Limited announced the acquisition of an additional 3.06% shareholding in HM Power and Cables Private Limited on March 30, 2026. The acquisition involved 460,000 equity shares, each valued at ₹10.This transaction increases Classic Electrodes (India) Limited's total shareholding in HM Power and Cables Private Limited to 13.06%. HM Power and Cables Private Limited, incorporated on January 15, 2024, is engaged in the manufacturing, importing, exporting, supplying and dealing in electric and electronic wires and cables. The company’s turnover is currently Nil, as it has not generated any income since its incorporation.
The acquisition, undertaken for investment purposes and to strengthen the company’s strategic business portfolio, qualifies as a Related Party Transaction as a promoter director of Classic Electrodes (India) Limited has significant influence in HM Power and Cables Private Limited. The transaction was completed at arm's length.
| Detail | Information |
|---|---|
| Target Entity | HM Power and Cables Private Limited |
| Business | Manufacturing of Wires and Cables |
| Turnover | Nil |
| Acquisition Date | March 30, 2026 |
| Shares Acquired | 460,000 |
| Price Per Share | ₹10 |
| Total Consideration | ₹4,600,000 |
| Shareholding Percentage Acquired | 3.06% |
| Total Shareholding | 13.06% |
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