Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to enclosed herewith the copy of the press release with regard to acquire additional 35.82 % Stake/Shares in Peaton Electrical Company Limited (CIN NO: U31403GJ2006PLC049428) (PECL), pursuant to which PECL become the subsidiary of the company.
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Power & Instrumentation (Gujarat) Limited has acquired an additional 35.82% stake in Peaton Electrical Company Limited (PECL). With this acquisition, PECL will become a subsidiary of the company. The company has submitted a copy of the press release regarding this acquisition to the stock exchanges. PECL is registered with CIN U31403GJ2006PLC049428. The disclosure has been made under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements, 2015.
This acquisition gives the company majority control over PECL, allowing it to consolidate PECL's financials and operations into its own. For shareholders, this signals an inorganic growth move and potential revenue expansion, though the financial terms of the deal were not disclosed in this announcement.