HFCL will pay cash consideration of INR 1 crore for acquiring 50 percent of the diluted paid-up equity share capital of Nimpaa Telecommunications (Nimpaa). The acquisition will be completed by April 2021.
March 16, 2021
HFCL Ltd. plans to acquire up to 50 percent stake in Nimpaa Telecommunications — keeping in line with thrust on addition of new telecom network products in the field of communications, specifically Aramid Reinforced Plastic (ARP) rods.
ARP rods shall be manufactured and supplied by Nimpaa for HFCL, its subsidiaries and associate companies’ captive consumption.
Also Read: Industry Welcomes PLI Scheme for Telecom Sector.
Nimpaa is a newly incorporated company and no financials have been prepared. It was incorporated to carry on the business of manufacturing all types of equipment, components, accessories and cables required for telecommunication systems, networks and services.
