Autofurnish acquires 55 percent stake in Chhariot EMob to enter E-Mobility
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 6.8 pts less than Nifty Microcap 250 and 6.0 pts less than its Auto Components & Equipments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Board approved acquiring 55 percent equity in Chhariot EMob Private Limited, which trades, distributes, assembles and manufactures two-wheeler electric vehicles, EV parts and batteries. Deal is already completed. Cost is cash at face value. Promoters are separately buying the remaining 45 percent, making this a related party transaction. Target had NIL turnover in the last three years and is based in India.
Gives Autofurnish a foothold in the EV segment but the target has no revenue history, so near-term earnings impact is unclear.