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Novateur Electrical & Digital Systems Pvt Ltd (indoasian)

View map Noida, Uttar Pradesh
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Company Profile

Legrand makes an offer to Indo Asian Fusegear for the acquisition of its Switchgear business New Delhi; July 22, 2010; Electrical equipment majors, Indo Asian Fusegear and Legrand today announced that the latter had made an offer to buy the Switchgear division of Indo Asian Fusegear. The association which is subject to statutory & regulatory approvals has already been recommended unanimously by the Board of Directors of Indo Asian Fusegear. Ambit Corporate Finance acted as the exclusive investment bankers, and J Sagar and Associates are the legal advisors to Indo Asian Fusegear Ltd. Amarchand Mangaldas are the legal advisors to Legrand. Commenting on the association, Mr. V P Mahendru, Chairman & Managing Director, Indo Asian Fusegear Limited, said, ?The board of Directors has approved Legrand?s offer for the purchase of the switchgear division of Indo Asian Fusegear. The company will continue to operate its other existing business in the areas of lighting, wires & cables. Further, the company plans to pursue opportunities in the areas of advance lighting systems (including the most efficient lighting source ? LED), products for energy management & conservation.? ?The board will be recommending a Special Dividend to the shareholders out of the proceeds of the sale of the switchgear business?, added Mr. Mahendru. Commenting on the association with Legrand, Mr. P K Ranade, Joint Managing Director, Indo Asian Fusegear Limited, said,

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Fact Sheet
Year of Establishment
1958
Nature of Business
Manufacturer
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Novateur Electrical & Digital Systems Pvt Ltd (indoasian)Rakesh Maheshwari View Contact Number
+91-120-3853000
View mapB 24 Phase 2
Noida - 201305
Uttar Pradesh, India
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