Shilpi Cable Technologies Ltd. (BSE:533389) agreed to acquire Shilpi Worldwide Pte. Ltd. from Shilpi Worldwide DMCC for $5.3 million on May 30, 2016. As a result of the deal, Shilpi Worldwide be a direct wholly owned subsidiary of Shilpi Cable Technologies Ltd. instead of step down wholly owned subsidiary. The transaction is subject to the requisite statutory approval and has been approved by the Board of Shilpi Cable Technologies.