India Motor Parts & Accessories Ltd. (IMPAL) has picked up the balance 10% stake in CAPL Motor Parts Pvt. Ltd. for ₹1.14 crore.
On Wednesday, the board of IMPAL approved the purchase of the remaining five lakh equity shares of CAPL from the existing shareholders. On completion of the share purchase, IMPAL’s shareholding in CAPL would increase to 100%, it said in a regulatory filing.
CAPL is into sale and distribution of automobile parts. Now, it becomes a wholly owned subsidiary of IMPAL. The transaction is expected to be completed by November 30.
