Varroc Engineering Limited acquired an additional 21% stake in CarIQ Technologies Pvt Ltd. for INR 70 million.
April 28, 2023
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Varroc Engineering Limited (NSEI:VARROC) acquired an additional 21% stake in CarIQ Technologies Pvt Ltd. for INR 70 million on April 28, 2023. The consideration will be paid in cash. By way of this acquisition the stake of the Varroc Engineering's has increased from 74% to 95%.
Varroc Engineering Limited (NSEI:VARROC) completed the acquisition of an additional 21% stake in CarIQ Technologies Pvt Ltd. on April 28, 2023.
Varroc Engineering Limited is an India-based automotive component company. The Company manufactures and supplies electrical-electronic, polymer, metallic, exterior lighting and advanced safety systems to leading original equipment manufacturer (OEMs), with end-to-end capabilities across design, development and manufacturing. Its segments include Automotive and Others. The Automotive segment consists of the business of automobile products consisting of auto parts for two-wheelers, three-wheelers and four-wheelers and related design, development and engineering activities and other services. The Others segment comprise of forging components for off road vehicles and components for mining and oil drilling industry. It offers diverse product line in valves, transmission, engine parts and heavy forging. It is a supplier of outdoor lighting systems to OEMs. It also offers air filter, assemblies mirror, door trims, central console, traction motor and controller, and telematics control unit.
VARROC ENGINEERING LIMITED 
