Electronic manufacturing services company Avalon Technologies (NSE:AVALON, BOM:543896) agreed to acquire a 4% stake in Zepco Technologies, according to a Thursday filing to the Indian stock exchanges.
Zepco manufactures and sells motors for various industries including drones, electric vehicles and defense.
Avalon plans to invest in Zepco through the subscription of equity shares and compulsorily convertible preference shares at 306.55 rupees per security, inclusive of premium, with a face value of 10 rupees.
The investment is part of proposed wider business partnership between the two companies. They plan to use Zepco's technology and design expertise and Avalon's experience to explore new opportunities, develop manufacturing capabilities, and build customer relationships.
The transaction is expected to be completed in three to four weeks.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。