Force Motors Limited (BSE:500033) agreed a principal proposal to acquire Veera Tanneries Private Limited on February 4, 2026. As of February 6, 2026, Force Motors Limited have executed a Memorandum of Understanding to acquire 100% shares in Veera Tanneries Private Limited for a total consideration of INR 1.8 billion. A cash consideration INR 1.75 billion will be paid by Force Motors Limited. As part of consideration, INR 1.75 billion value is paid towards common equity of Veera Tanneries Private Limited.

For the period ending March 31, 2025, Veera Tanneries Private Limited reported total revenue of INR 3.6 million.

The transaction is subject to to deduction of applicable taxes, subject to undertaking the requisite due-diligence and subject to mutually agreed terms and conditions, which agreed terms and conditions shall form of the definitive agreements. The deal has been approved by the Force Motors Limited's board of directors.

The proposed acquisition is expected to be completed before March 31, 2026.

Force Motors Limited (BSE:500033) completed the acquisition of Veera Tanneries Private Limited for INR 1.6 billion on April 23, 2026.