At meeting held on 14 February 2024
The Board of Ucal at its meeting held on 14 February 2024 has approved acquisition of up to 49% stake in Avironix.Avironix is a related party since Ram Ramamurthy is common Director in both the companies. The transaction is at arm's length.
Avironix is a Drone Design, Manufacture and services company. It works on Drone Design, Analysis, Manufacturing, and Testing. The present product portfolio includes Micro, Small and Medium Drones. Avironix's mapping drone Peregrine was recently awarded Type Certification. Avironix also provides comprehensive Drone based services for various applications that include Agriculture, Mining, Infrastructure and Defence.
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