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

Listed Co AcquisitionStrategic Transactions View source PDF

Price reaction · full curve

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.