In a significant strategic move, Divine Power Energy Limited (DPEL) has signed agreements to acquire 100% equity of Vimlesh Industries Private Limited, based in Delhi, for a total cash consideration of INR 70 crore. Post-acquisition, Vimlesh Industries will operate as a wholly owned subsidiary of DPEL.
The acquisition, aimed at expanding DPEL’s presence in the electrical industry, is expected to conclude within 60 days. Vimlesh Industries, established in 1986, reported a turnover of INR 152.11 crore in FY 2023-24.