Suyog Telematics Limited — Important, 26-12-2024: Memorandum of Understanding/Agreements

Suyog Telematics has signed a Memorandum of Understanding to acquire 100% equity shares of Lotus Tele Infra Private Limited for ₹13.5 crore. This strategic move will allow Suyog to enhance its presence in the vital Delhi and NCR telecom markets, potentially expanding its operations significantly. The acquisition is expected to be completed by March 31, 2025, and Lotus will become a wholly owned subsidiary upon finalization. This development may generate a positive outlook for investors, as it positions Suyog for growth in key telecommunications circles.