Vajram Electric Ltd acquires 40% stake in Varcas Automobiles to scale up production and address rising demand for electric two-wheelers
Acquiring Company
Vajram Electric Ltd
Acquired Company
Varcas Automobiles Pvt Ltd
HyderabadHyderabadManufacturingAutomotiveManufacturingAutomotiveElectric VehicleDescription
Vajram Electric Ltd, a subsidiary of eBikeGo, has acquired a 40% stake in Varcas Automobiles Pvt Ltd, a Hyderabad-based electric vehicle (EV) manufacturer. This strategic acquisition is expected to create new synergies that will help Vajram Electric to scale up production and meet the rising demand for electric two-wheelers in India. Additionally, Vajram aims to capitalize on Varcas’ manufacturing capabilities to address the rising demand for EVs in Tier II and Tier III cities.
Quick answer
Vajram Electric Ltd is acquiring Varcas Automobiles Pvt Ltd, announced October 10, 2024. Vajram Electric Ltd is based in Hyderabad, Telangana, India.
- How much did Vajram Electric Ltd pay for Varcas Automobiles Pvt Ltd?
- The deal value was not disclosed.
- What does Vajram Electric Ltd do?
- Vajram Electric Ltd is a subsidiary of eBikeGo and a prominent player in the electric two-wheeler industry.
- Where are Vajram Electric Ltd and Varcas Automobiles Pvt Ltd based?
- Vajram Electric Ltd is based in Hyderabad, Telangana, India. Varcas Automobiles Pvt Ltd is based in Hyderabad, Telangana, India.
- Who are the decision-makers at Vajram Electric Ltd?
- Fundz holds 1 contact at Vajram Electric Ltd. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
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Frequently asked
Who acquired Varcas Automobiles Pvt Ltd?
Varcas Automobiles Pvt Ltd was acquired by Vajram Electric Ltd, based in Hyderabad. The deal was reported on October 10, 2024. Vajram Electric Ltd is a subsidiary of eBikeGo and a prominent player in the electric two-wheeler industry. Vajram Electric Ltd is privately held and operates in Manufacturing.
When did Vajram Electric Ltd acquire Varcas Automobiles Pvt Ltd?
Vajram Electric Ltd's acquisition of Varcas Automobiles Pvt Ltd was reported on October 10, 2024. Vajram Electric Ltd, a subsidiary of eBikeGo, has acquired a 40% stake in Varcas Automobiles Pvt Ltd, a Hyderabad-based electric vehicle (EV) manufacturer. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Varcas Automobiles Pvt Ltd do?
Varcas Automobiles Pvt Ltd is a Hyderabad-based electric vehicle (EV) manufacturer dedicated to delivering high-quality, reliable, and affordable electric vehicles to meet the diverse needs of customers while contributing to a cleaner environment. It is privately held, operating in Manufacturing, and is based in Hyderabad.
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