Veto Switchgears and Cables Limited (NSEI:VETO) acquired additional 43.75% in Vankon Modular Private Limited from Manoj Kurnar Chaudhary for INR 23.14 million on February 10, 2021. Under terms, Veto Switchgears acquired 586800 fully paid-up equity Shares at INR 32 per share and 681950 partly paid shares at 6.4 per share. Post-acquisition Veto Switchgears and Cables will hold 90.8% stake in Vankon Modular fully paid shares with Manoj Kumar Chaudhary and Prajwal Sharma holding 4.6% stakes each and Veto Switchgears and Cables will hold 100% stake by holding 1.48 million partly paid up shares. In a related transaction, Veto Switchgears and Cables acquired 113500 of fully paid-up equity Shares at INR 32 per share and 118750 partly paid-up equity Shares at INR 6.401 per share from Akshay Kumar Gumani. As of March 31, 2020 Vankon Modular reported a revenue of INR 650.5 million, EBITDA of INR 36.7 million and net income of INR 9.9 million. Veto Switchgears and Cables Limited (NSEI:VETO) completed the acquisition of additional 43.75% in Vankon Modular Private Limited from Manoj Kurnar Chaudhary on February 10, 2021.