DLF Limited (NSEI:DLF) entered into definitive agreement to acquire additional 4.48% stake in Vikram Electric Equipment Private Limited on November 7, 2023. In a related transaction, DLF is also acquiring stakes in 2 more LOCs (Land Owning Companies) and the total cost of the acquisition is INR 400 million. Post the acquisition, Vikram Electric Equipment will become a subsidiary of DLF. Vikram Electric Equipment reported revenues of INR 9 million, loss after tax of approximately INR 330 million and negative Net worth of approximately INR 520 million. The deal has been approved by the board of directors of DLF Limited. The transaction is expected to close within 180 days from the execution of definitive agreement.

DLF Limited (NSEI:DLF) completed the acquisition of additional 4.48% stake in Vikram Electric Equipment Private Limited on November 16, 2023. Vikram Electric Equipment Private Limited acts as a subsidiary to DLF Limited.