TVS Emerald, a subsidiary of TVS Holdings, has announced plans to acquire 100% of Radial (Phase II) IT Park Pvt Ltd and Radial (Phase III) IT Park Pvt Ltd. These acquisitions are valued at ₹234.33 crore for Phase II and ₹342 crore for Phase III, respectively.
Key Details:
- Target Companies: Engaged in construction and development with no turnover reported in FY24.
- Purpose: To expand market presence, enhance capabilities, and boost revenue opportunities in the real estate sector.
- Consideration: Entirely cash-based.
- Completion Timeline: Expected by December 31, 2024.
Target Entities Overview:
- Radial (Phase II) IT Park Pvt Ltd: Incorporated in May 2019, with a net worth of ₹86.21 crore and a loss of ₹0.21 crore in FY24.
- Radial (Phase III) IT Park Pvt Ltd: Established in December 2019, holding a net worth of ₹108.6 crore and a loss of ₹0.37 crore in FY24.
This strategic acquisition aligns with TVS Emerald’s growth ambitions, leveraging new opportunities in the construction and development industry.
TOPICS:
TVS Holdings