India's Remsons Industries to buy stake in Astro Motors, shares gain

Remsons Industries

09/04/2025 11:09

** Shares of Remsons Industries REIN.NS gain as much as 4.9% to 128.30 rupees, closed up 0.6%

** Auto components maker to acquire 51.01% stake in Astro Motors for 142.2 mln rupees ($1.6 mln)

** Acquisition involves subscription to 62,500 new shares

** REIN to also allot 319,994 shares to existing promoters of Astro Motors in exchange for acquisition of 26,400 shares in Astro Motors

** REIN shares down ~16% so far in 2025

($1 = 86.5170 Indian rupees)

(Reporting by Vijay Malkar)

((VijayDattaram.Malkar@thomsonreuters.com;))