CG Power Acquires Majority Stake in GG Tronics for Rs 319 Crore

CG Power and Industrial Solutions announced plans to acquire a 55% stake in GG Tronics for Rs 319 crore. The acquisition is projected to be finalized by August 23, 2024. GG Tronics specializes in electronic safety embedded signalling systems for railways.

CG Power and Industrial Solutions revealed its intention to acquire a 55% stake in GG Tronics for Rs 319 crore on Wednesday.

The acquisition is scheduled to be finalized by August 23, 2024, according to a company statement.

The definitive agreements outline the purchase of equity shares from GGT promoters and subscription to compulsorily Convertible Preference Shares, aggregating up to Rs 319.38 crore. Bengaluru-based GG Tronics focuses on designing, manufacturing, supplying, and installing electronic safety embedded signalling systems for the railway transportation segment.