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ATPOLE is a leading manufacturer of advanced torque motors and controllers for ev 2&3 wheelers, drones, defence and industrial application motors. They are specialized in the design, development, and production of brush less dc (bldc) and permanent magnet synchronous motors (pmsm) as well as advanced torque controllers. Its revenue upto November 2023 was Rs 15.08 lakh.
The acquisition will help the company in its foray into the renewable energy space as Atpole controllers is a leading manufacturer of advanced torque motors and acquisition for EV 2&3 Wheelers, Drones, Defence and Industrial application motors. Post this the Company is planning to rapidly increase its print in BLDC motor business existing segment by serving all electric vehicle manufacturing companies by synergizing with its energy businesses.
With this acquisition the company would head towards conservation of and thereby achieving its green energy goals.
The company will acquire 30,000 equity shares comprising 60% of the paid-up share capital of ATPOLE for total cash consideration of Rs 2.19 crore.
The company said that the time required for completion may range upto 10 days from the date of this disclosure.
Bondada Engineering is a infrastructure company that provides engineering, procurement, and construction (EPC) services, as well as operations and maintenance (O&M) services to customers in the telecom and solar energy industries throughout India.
The company’s consolidated net profit stood at Rs 14.69 crore in H1 FY24, steeply higher than Rs 4.35 crore posted in H1 FY23. Net sales soared 152.8% YoY to Rs 295.72 crore in H1 FY24.
The scrip rallied 5% to end at Rs 397.25 on Friday, 29 December 2023.
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