Endurance Technologies Limited has informed the Exchange about Acquisition
ENDURANCE · price
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Endurance Technologies has completed the acquisition of the remaining 38.50% stake (52,749 equity shares) in Maxwell Energy Systems Private Limited from minority shareholders. The company paid a total consideration of Rs. 75,00,90,78 (approximately Rs. 7.5 crore) for this balance stake. With this acquisition, Maxwell Energy Systems has become a wholly-owned subsidiary of Endurance Technologies with effect from 16th May 2025. This follows the Share Purchase Agreement (SPA) signed on 8th May 2025.
This is a relatively small acquisition (Rs. 7.5 crore) that gives Endurance Technologies full ownership of Maxwell Energy Systems, simplifying the corporate structure and eliminating minority interests. The financial impact on Endurance is likely immaterial given the small deal size.