The company clocked revenues of Rs The company is in talks with one of its clients, a multinational electric equipment maker with a global turnover of over Rs 14, crore, to enhance an ongoing product supply deal, Mahendru said without naming the company. Earlier last week, Indo Asian Fusegear reported a Indo Asian is building three new facilities in the tax-free zone in Haridwar for manufacturing switchgears, lighting equipment like compact fluorescent lamps and intelligent electric equipment like automated lighting switches. Indo Asian has issued 15 lakh convertible share warrants to its promoters, which can fetch about Rs crore for the company upon conversion. Indo Asian is also looking at growing inorganically by making an acquisition, preferably in Europe.
In a board meeting, Indo Asian Fusegear has decided to buy back shares at a price upto Rs. This is a terribly disappointing strategy for multiple reasons. Read the full post. Update 20 Jun Transaction Withdrawn. This is great news indeed — but given that that promoters have shown true colours, it may not be very nice to continue with a large position. So why did they do it?
Never miss a great news story! Get instant notifications from Economic Times Allow Not now. Legrand to buy Indo Asian unit for Rs crore. All rights reserved.
Having the experience of more than 5 decades in manufacturing and marketing LV Switchgear Products, Indo Asian is known to deliver unquestionable safety, reliability and value for money offer for all types of projects. Being pioneer in MCB for decades Indo-Asian is also a serious player in power, protection and distribution sector. The company values and resources has helped meeting the customer's expectations hence Indo Asian owns customer's trust, satisfaction and reliability. A learning process that spans 5 decades, of creating and delivering world class electrical products gives us the edge to stay in the forefront of technology.