FORCE MOTORS LTD has informed the Exchange about Update on Acquisition- Completion of Acquisition.
FORCEMOT · price
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Force Motors Limited has completed the acquisition of Veera Tanneries Private Limited (VTPL) by executing a Share Purchase Agreement on 23rd April, 2026. The total consideration for purchasing the entire shareholding of VTPL was approximately ₹161.96 crore (Rs. 161,96,25,729). Following the acquisition, VTPL has become a Wholly Owned Subsidiary of Force Motors. The company had earlier informed the exchanges about this acquisition in February 2026. This acquisition marks Force Motors' entry into the leather processing/tanneries business segment.
Shareholders should note that this acquisition diversifies Force Motors' business beyond its core automotive operations into leather processing. The ₹161.96 crore deal is a significant investment and will need monitoring for synergies and return on investment from the new wholly owned subsidiary.