JBM Auto Limited signed an agreement to acquire 20.1% stake in Jbm Solaris Electric Vehicle Private Limited for INR 8.45 million.

JBM Auto Limited (BSE:532605) signed an agreement to acquire 20.1% stake in Jbm Solaris Electric Vehicle Private Limited for INR 8.45 million on April 22, 2022. JBM Auto Limited will acquire 20.1% stake by acquiring 3.015343 million shares. Post completion JBM Solaris Electric Vehicles Private Limited will be wholly owned subsidiary of JBM Auto Limited.

JBM Solaris Electric Vehicles Private Limited reported turnover of 7..66 million for the financial year ended on March 31, 2021. The transaction is expected to close on April 30, 2022.