The Chennai-based Consul Consolidated, a manufacturer of UPS and voltage stabilisers, has taken a controlling stake in Megatech of Pune, to expand its product base and diversify in solar power equipment.
Addressing media persons on the company’s plans, Ramesh Sankaran, Chairman, Consul Consolidated, said the company, backed by a $25-million private equity investment from Peepul Capital, has charted out an expansion plan. Consul Consolidated has started work on a second factory in Chennai and has taken a controlling stake in Megatech, he said while declining to disclose the size of the individual investments.
balaji.ar@thehindu.co.in
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.