Salzer Electronics Limited (BSE: 517059, NSE: SALZERELEC), among leading players offering total and customised electrical solutions, announced that the acquisition of the promoters shares of Kaycee Industries Limited from the CMS group has been duly completed. This acquisition has been done as per the share purchase agreement (SPA) dated 24th May 2019. Open offer to the shareholders will be done in due course in accordance with our Public Announcement dated 30th May 2019 and in compliance with SEBI Takeover Regulations.
- Strategic acquisition in line to strengthen Company's position in the Industrial Switchgear market
- Acquisition to aid increase product offerings and further expand its footprint into newer segments along with access to all India dealer network
- Adds to Company's attractive product offerings making it complementary & synergistic to the existing line of business and access to a larger client base
Shares of SALZER ELECTRONICS LTD. was last trading in BSE at Rs.121.25 as compared to the previous close of Rs. 123.05. The total number of shares traded during the day was 104 in over 4 trades.
The stock hit an intraday high of Rs. 121.3 and intraday low of 121.05. The net turnover during the day was Rs. 12602.