The Board of VE Commercial Vehicles Limited (VECV), a material unlisted subsidiary of Eicher Motors Limited, has approved increasing shareholding of VECV in VE Connected Solutions Private Limited.
EICHERMOT · price
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Eicher Motors' unlisted subsidiary VE Commercial Vehicles (VECV) has approved acquiring an additional 23% stake in VE Connected Solutions Private Limited (VECS), raising its holding from 51% to 74%. The acquisition is for INR 11.01 million in cash (INR 95.80 per share for 1,15,000 shares), to be completed by July 31, 2026. VECS, a connected vehicle solutions JV between VECV and iTriangle Infotech, saw turnover surge from INR 330 million in FY25 to INR 911 million in FY26. VECV's stake increase comes at arm's length with no regulatory approvals required. The deal gives VECV majority control, reducing iTriangle's stake to 26%.
Minor positive — Eicher deepens control over its connected mobility subsidiary with a modest INR 11 crore investment, benefiting from VECS's fast-growing revenue and expanding role in automotive telematics and IoT solutions.