HFCL Limited
HFCL Limited has informed the Exchange about the following acquisitions:1. Investment in HFCL Advance Systems Private Limited ( HASPL ), presently a non-material wholly owned subsidiary of HFCL, by way of subscription to equity shares of HASPL, for consideration of ₹89.25 Crore (Indian Rupees Eighty-Nine Crore and Twenty Five Lakh only), in two tranches, pursuant to a share subscription agreement, executed by and amongst HFCL, Mr. Anant Nahata, HASPL, Mr. Sushant Mohan Gupta, Mrs. Shubhra Gupta, BAS Engineering Private Limited and ITI Holdings and Investment Private Limited ( SSA ), subject to completion of conditions precedent set out under the SSA. by the Company.2. Additionally, in furtherance of the disclosure dated March 25, 2026 made by HFCL, the board of directors of HASPL at its meeting held today i.e. June 03, 2026 has, inter alia, considered and approved the acquisition of 100% (one hundred percent) of the paid-up share capital of HFCL Defence Systems Private Limited ( HDSPL ) (formerly known as Spiral EHL Engineering Private Limited) from Defsys Solutions Private Limited ( Defsys ) for a cash consideration of ₹25 Crore (Indian Rupees Twenty-Five Crore only), pursuant to a share purchase agreement executed by and amongst HASPL, Defsys, HDSPL, DMG Finance and Investments Private Limited (holding company of Defsys) ( DMG ), Mr. Dev Mohan Gupta (promoter of DMG), and Mr. Sushant Mohan Gupta (nominee shareholder of HDSPL) ( HDSPL SPA ), subject to completion of the conditions precedent set out under the HDSPL SPA. |SUBJECT: General Updates
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