Pursuant to Regulation 30 read with Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 and SEBI Master Circular dated November 11, 2024, we would like to inform you that the Board of Directors of the Company, at their Meeting held on June 25, 2025 granted approval to enter into Joint Venture Agreement
ASKAUTOLTD · price
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ASK Automotive's Board approved on June 25, 2025, a Joint Venture with Germany's T.D. Holding GMBH (TDH) to make and sell sunroof control cables and helix cables for passenger vehicles. ASK will hold 49% in the new JV Company while TDH will hold the remaining 51%. ASK plans to invest up to Rs. 2.45 crore in total, with Rs. 49 lakhs to be put in at the time of the JV's incorporation and the rest in later tranches. The new JV Company will be set up once the Joint Venture Agreement is signed. Detailed disclosures will be filed with the stock exchanges after signing the JVA.
This is a strategic move into a new auto component segment (sunroof and helix cables) through a partnership with a German firm, which could help diversify ASK Automotive's revenue beyond its existing product lines. However, the total investment is small (Rs. 2.45 crore), so immediate financial impact is limited and the deal's long-term success will depend on execution and demand.