Divine Power Energy Expands with Acquisition of Vimlesh Industries

Divine Power Energy Ltd has acquired the entire stake in Vimlesh Industries for Rs 70 crore, making it a full subsidiary. The move aims to expand DPEL's presence in the domestic electrical industry, enhance product offerings, and improve market positioning leading to increased revenue.

In a strategic move, Divine Power Energy Limited (DPEL) announced the completion of its acquisition of Vimlesh Industries, securing a 100% stake for Rs 70 crore. This acquisition positions Vimlesh as a fully owned subsidiary under DPEL's expanding umbrella.

The purchase, formalized through a share agreement in November of the previous year, aligns with DPEL's plans to bolster its footprint within the domestic electrical sector. By integrating Vimlesh Industries, DPEL looks forward to enhancing its product portfolio and strengthening its market position domestically and internationally.

Managing Director Rajesh Giri highlighted the strategic benefits, stating that the collaboration is poised to significantly boost DPEL's consolidated revenues by doubling production capacities, thereby leveraging the strengths of both entities. Vimlesh Industries, known for manufacturing insulated aluminium and copper wires, has a strong export market across continents including Europe, Asia, and Africa.

(With inputs from agencies.)