Salzer Electronics has entered into a Share Purchase Agreement for acquisition of entire 45,899 equity shares of Kaycee Industries representing 72.32% of the Total paid-up shares at a Price of Rs 3,475 per share from its Principal Promoter – Universal Trust.
Since both Salzer Electronics and Kaycee Industries are in the same line of business, Salzer, with this acquisition, would drive more synergies in products offering with new range of Products on one side and strengthen its growth on the other side with immediate effect. The completion is expected during the second quarter of FY20, subject to receipt of approval from SEBI.
Salzer Electronics is a Leading player offering Total and Customized Electrical Solutions in Switchgears, Wires & Cables and Energy Management business. The Company caters to a wide range of products with five In-house manufacturing facilities, located in Coimbatore and Himachal Pradesh.