Quality Power Electrical Equipments Acquires 76% Stake in Veeral Controls for $1.7 Million
Quality Power Electrical Equipments Ltd has acquired a 76% stake in Veeral Controls Pvt Ltd for approximately $1.7 million, enhancing its capabilities in medium voltage industrial power electronics and high current rectification. This acquisition allows Quality Power to expand its portfolio and serve a diverse customer base, including major companies like ABB and BHEL. Following the announcement, Quality Power's share price rose by 4.01%.
Theia Market Signal Identification - AI Assisted
Quality Power Electrical Equipments Ltd has acquired a 76% stake in Veeral Controls Pvt Ltd for approximately $1.7 million (Rs. 15.2 crore). Veeral Controls, based in Gandhinagar and founded in 1993, specializes in high current power electronics and industrial power conversion systems.
This acquisition enhances Quality Power's capabilities in medium voltage industrial power electronics and high current rectification, which are critical for applications such as green hydrogen electrolysers and defence power systems. The integration of Veeral's technologies allows Quality Power to expand its portfolio, which includes transformers and harmonic filters, while serving a diverse customer base including ABB, BHEL, and Indian Railways. Following the announcement, Quality Power's share price increased by 4.01% to an intraday high of ₹757.10 before closing at ₹740, up 1.6% from the previous day.
Comments