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Board approves amalgamation of Simon Electric Pvt Ltd into company

News: The V-Guard Board have approved 100% amalgamation of Kerala based Simon Electric Pvt Ltd (SEPL) into a company for an aggregate value of Rs.27 crore. The said consideration is payable in the form of shares of VGIL, in the share exchange ratio of 0.0076646 equity share for every equity share of SEPL.

Views: SEPL is engaged in manufacturing electrical switches, sockets, fan regulators and home automation products. We believe though small in size, the said deal will help V-Guard scale up its electrical goods portfolio by acquiring SEPL’s established manufacturing facility and dealer networks. SEPL reported revenue of ~Rs.6 crore during H1FY22.

Impact: Neutral