CG POWER COMPLETES ACQUISITION OF TOSIL SYSTEMS

CG POWER COMPLETES ACQUISITION OF TOSIL SYSTEMS

CG Power’s wholly owned subsidiary Axiro Semiconductor Pvt Ltd has completed the acquisition of 100% stake in Tosil Systems Pvt Ltd. Acquisition consideration: ₹16.44 crore. Axiro acquired 5 lakh equity shares, representing the entire subscribed and paid-up equity capital of Tosil. Following completion, Tosil Systems has become a wholly owned subsidiary of Axiro Semiconductor. Impact: Positive — strengthens CG Power’s semiconductor business through its Axiro platform.