Chennai-based Sundram Fasteners (SFL) today said it has has acquired 52.94 per cent equity shares of Sundram Non-conventional Energy Systems (SNES), a subsidiary from Sundram Fasteners Investments (SFIL) and Upasana Engineering (UEL), wholly-owned subsidiaries of SFL.
Consequent to the acquisition of the equity shares, SNES has become a direct subsidiary of the SFL with effect from August 27, the company said. SNES generates wind power inTamil Nadu.
Sundram's shares closed at Rs 26.80, 1.29 per cent lower than Tuesday's close.