Acquires 26% stake in Arts EV for Delhi e-bus project
AWHCL · price
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Antony Waste Handling Cell will acquire a 26 percent stake (2,600 shares for Rs 26,000 cash) in Arts EV Private Limited from promoter group entity Antony Road Transport Solutions. Arts EV is an SPV set up to operate up to 800 electric buses in Delhi under the PM E-DRIVE Scheme. AWHCL, as Strategic Member, will provide bus cleaning and sanitation services using its Click2Clean platform, while Antony Road Transport (74 percent) will manage fleet operations. Deal closes within 2 months and Arts EV becomes an associate company.
Strategic entry into Delhi electric bus support services, expanding beyond municipal waste. Related party transaction with promoter group; equity outlay is nominal.