Goldstone Applied sciences Ltd. (GTL) mentioned it has accomplished the acquisition Equitas Applied sciences Personal Ltd. (ETPL), popularly referred to as WowTruck, by buying 100% of the present fairness capital of ETPL.
This consists of two.5 crore shares at a valuation of roughly ₹8 crore and now ETPL has now grow to be an entirely owned subsidiary of GTL.
GTL just lately ventured into the electrical car (EV) enterprise and is now constructing platforms for EV fleet operators, distributors and OEM producers.
Pavan Chavali, Managing Director, Goldstone Applied sciences mentioned, “With this acquisition we are going to discover additional synergies within the fast-growing EV business.”
“The federal government’s focus in direction of the adoption of EVs’ for a cleaner and greener setting will assist us scale up sooner on this sector,” he mentioned.
The corporate plans to introduce an EV fleet and associated platform options into the WowTruck platform for the electrical three-wheelers, four-wheelers and truck segments, each on the products and logistics transportation. It additionally plans to supply finance options for the fleet house owners by tie-ups with NBFCs and financing companies.
By- The Hindu
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