Univastu to set up UK subsidiary, acquire Cambium Networks assets for 39 lakh GBP
UNIVASTU · price
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Univastu India's board approved incorporating a wholly owned UK subsidiary called Univastu Networks Limited to acquire assets of Cambium Networks Ltd (in administration), a UK telecom and wireless networking firm. Investment: 39 lakh GBP (about Rs 41 crore) for 100 percent shareholding, split into 39 crore ordinary shares at 0.01 GBP each. Funded by cash under RBI's automatic overseas direct investment route, no prior RBI approval needed. Promoters Pradeep and Rajashri Khandagale are interested parties, transaction at arm's length.
Marks international expansion into telecom technology. New business vertical beyond core construction. Modest size deal, but promoter-related and outside mainline business.