Tunwal E-Motors Limited — JV/Acquisition, 29-03-2025: Acquisition

Tunwal E-Motors Limited has acquired 95,850 fully paid-up equity shares in its wholly-owned subsidiary, Palsana EV Industries (India) Private Limited, through a preferential allotment. The total cost of acquisition is ₹4.85 crore, comprising ₹1.98 crore from fresh issuance and ₹2.86 crore from converting outstanding unsecured loans. This strategic move aims to bolster working capital and enhance the subsidiary’s financial standing, facilitating business expansion in the electric vehicle sector. As a result, Tunwal E-Motors strengthens its positioning in the growing E-Mobility market while maximizing revenue opportunities.