Polycab India Limited (PIL) has inked an agreement to acquire a 100 per cent stake in Silvan Innovation Labs Private Limited (Silvan).
The deal is worth Rs 102 million for shares and about Rs 80 million as additional funds infusion to discharge certain outstanding liabilities. However, the transaction is subject to the fulfillment of certain conditions by both parties.
Silvan is a Bengaluru-based technology company focused on providing automation offerings, and will operate as a wholly-owned subsidiary of Polycab post-acquisition.
