Quality Power acquires majority stake in Mehru Electrical for Rs 120 cr

New Delhi, Mar 7 (PTI) Newly listed Quality Power Electrical Equipments has acquired majority stake in instrument transformer manufacturer Mehru Electrical and Mechanical Engineers for Rs 120 crore.

“Quality Power has acquired 51 per cent of the share capital of Mehru for a total cash consideration of Rs 120 crore through a share purchase agreement,” the company said in a statement.

This acquisition represents a strategic milestone, aligning with Quality Power’s long-term vision to expand its technological capabilities, USP, manufacturing scale and global market reach, it added.

“By integrating Mehru’s technology with our advanced manufacturing and global supply chain, we are creating a powerhouse of innovation, reliability, and customer-centric solutions,” Bharanidharan Pandyan, Joint Managing and Whole-time Director at Quality Power, said.

Quality Power is one of the leading manufacturers of high-voltage electrical equipment and solutions.

After the stake acquisition, Quality Power’s stock surged nearly 11 per cent on the bourses.

The scrip of the company jumped 10.73 per cent each to Rs 374.30 apiece on both BSE and NSE.