Sona BLW Precision Forging Limited board of directors on Thursday approved an investment of $1.6 million (in equivalent Mexican Pesoso) in Sona BLW Edrive Mexicana, S.A.P.I. DE C.V. a wholly owned subsidiary, the company announced through an exchange filing. The investment of $1.6 million was in one or more tranches.
SONA BLW Edrive Mexicana is setting up a plant in Mexico and requires capital for meeting its pre-operative expenses.
Sona BLW Precision Forgings Limited holds 99.99 per cent share capital of SONA BLW -drive Mexicana.
SONA BLW Edrive Mexicana
SONA BLW Edrive Mexicana was incorporated on June 23, 2023, is setting up a plant in Mexico. The plant is likely to be operational in the calendar year 2024.
Sona Comstar shares
The shares of Sona Comstar on Thursday were at Rs 585.90, up by 2.50 per cent, according to NSE website.