Chennai-based Sundram Fasteners (SFL) today said it has has acquired 52.94 per cent equity shares of Sundram Non-conventional Energy Systems (SNES), a subsidiary from Sundram Fasteners Investments (SFIL) and Upasana Engineering (UEL), wholly-owned subsidiaries of SFL.
Consequent to the acquisition of the equity shares, SNES has become a direct subsidiary of the SFL with effect from August 27, the company said. SNES generates wind power inTamil Nadu.
Sundram's shares closed at Rs 26.80, 1.29 per cent lower than Tuesday's close.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app