DPEL Expands Footprint with Vimlesh Industries Acquisition

Divine Power Energy Limited (DPEL) has announced a complete acquisition of Vimlesh Industries for Rs 70 crore. This strategic move aims to deepen DPEL's influence in the domestic electrical sector. The deal is expected to finalize in 60 days, making Vimlesh a wholly-owned subsidiary.

On Friday, Divine Power Energy Limited (DPEL) disclosed its decision to acquire Vimlesh Industries, by signing a share purchase agreement valued at Rs 70 crore.

The acquisition, targeting a 100 percent stake, aims to bolster DPEL's standing in the domestic electrical market. With the transaction slated for completion within 60 days, Vimlesh Industries will soon operate as a wholly-owned subsidiary of DPEL.

Rajesh Giri, Managing Director of DPEL, emphasized the strategic benefits, stating that the acquisition will provide valuable synergies and expand their business footprint. Divine Power Energy is renowned for its industrial electrical wiring products across India.

(With inputs from agencies.)