Harmony Capital to acquire 51% in Truvolt Engineering via share swap

Listed Co AcquisitionStrategic Transactions View source PDF Explain this filing

Price reaction

Awaiting price reaction for this filing.

AI summary

Harmony Capital Services board approved acquiring about 51% stake in Truvolt Engineering Co Pvt Ltd via share swap, making it a subsidiary. Harmony will issue 1,26,47,400 equity shares at Rs.66 each (about Rs.83.47 crore) to Truvolt shareholders at a 1:2 swap ratio. Truvolt reported FY26 turnover of Rs.315 crore. Deal is a related party transaction needing shareholder and BSE approval.

Likely market impact

Share count will roughly double via share swap, adding Truvolt's Rs.315 crore engineering revenue. Pending shareholder and BSE approvals.