Mumbai: Diversified electrical products maker Crompton Greaves on Tuesday said that it has acquired a 51% stake in its associate company Brook Crompton Greaves at a price of $1.34 million (Rs6 crore).
The company has acquired 81.60 lakh equity shares, comprising 51% stake of Brook Crompton Greaves, at a price of $1.34 million, the company said in a filing to the Bombay Stock Exchange (BSE).
Brook Crompton Greaves manufactures low tension high efficiency motors for various industrial applications. The unit is based at Ahmednagar in Maharashtra.
Shares of Crompton Greaves were trading at Rs287.35, down 2.10% in afternoon trade on the BSE.