Lucas Indian Service Ltd informed the exchnage that it had agreed to acquire more than 44 lakh shares of India Nippon Electricals Ltd from two other promoter entities for Rs 168.91 crore.
A Share Purchase Agreement was signed between Lucas India and Mahle Holding (India) Pvt. Ltd. (MHIPL) to acquire 30 lakh shares at ₹356.49 per share.
LIS proposes to acquire/ carry out an exempted interse transfer of not more than 30,00,000 equity shares of the company from MHIPL and 14,14,786 equity shares of the company from MEDJ, the other promoter entities of the company.
LIS holds 50.80% of the equity share capital of the company while MEDJ holds 6.25% and MHIPL holds 13.26% respectively. Pursuant to this transfer, the shareho