Tunwal E-Motors Limited — JV/Acquisition, 17-01-2025: Acquisition

Tunwal E-Motors Limited has completed the acquisition of Palsana EV Industries India Private Limited, acquiring a 100% stake for a cash consideration of ₹3.01 crore. This strategic move aims to enhance market penetration, access new markets, and augment capabilities within the electric vehicle segment, potentially maximizing revenue opportunities. The transaction is expected to be finalized by January 31, 2025, pending customary closing conditions. Palsana EV is focused on the development and manufacturing of electric mobility vehicles, positioning Tunwal for further growth in the evolving EV landscape.