Suyog Telematics Limited has announced the signing of a Memorandum of Understanding (MOU) to acquire 100% equity share capital of Lotus Tele Infra Private Limited. This strategic acquisition, valued at ₹13.5 crores, reinforces Suyog Telematics’ position in the telecommunications infrastructure sector.
As per the MOU, ₹5 crores will be paid at the time of signing, with the remaining ₹8.5 crores due upon the execution of the Share Purchase Agreement. The transaction is expected to be completed by March 31, 2025, subject to regulatory and statutory approvals and customary conditions.
Upon completion, Lotus Tele Infra will become a wholly owned subsidiary of Suyog Telematics Limited, marking a significant milestone in the company’s growth strategy. This acquisition aligns with Suyog Telematics’ commitment to expanding its capabilities and enhancing its market presence.
Suyog Telematics shares opened at ₹1,810.00, matching the day’s high, while the low stood at ₹1,728.00. The stock remains below its 52-week high of ₹1,968.20 but above the 52-week low of ₹1,455.00.
As of 1:33 p.m., Suyog Telematics shares were trading 2.21% lower at Rs 1,755.20 on the NSE.
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