Semiconductor stock jumps after it acquires radio frequency components business from Renesas Electronics America Inc
News by Aliceblue News Desk
12 Mar 2025
Introduction:
Leading semiconductor company has obtained approval from the Committee on Foreign Investment in the United States for acquiring Renesas Electronics America Inc.’s RF Components business. This regulatory clearance marks a significant step toward completing the acquisition and expanding its technological capabilities in the RF sector.
Share price movement of CG Power:
On March 12, 2025, CG Power and Industrial Solutions Ltd opened at ₹614.70, up 1.53% from its previous close of ₹607.55. The stock reached a high of ₹619.50 (1.96%) and a low of ₹597.80. By 11:42 AM, it traded at ₹598.25 with a market cap of ₹91,464.61 crore.
CG Power secures U.S. approval for RF business acquisition:
CG Power and Industrial Solutions has received approval from the Committee on Foreign Investment in the United States for acquiring Renesas Electronics America Inc.’s RF Components business. This key regulatory clearance, obtained on March 10, 2025, enables the company to proceed with the transaction.
The company had earlier announced signing a definitive Asset Purchase Agreement on October 5, 2024. The acquisition, to be executed through subsidiaries, will strengthen CG Power’s RF technology capabilities. This approval marks a major milestone in finalizing the deal with Renesas and its affiliates.
With the required regulatory approvals in place, CG Power is now moving towards completing the acquisition. The deal is expected to enhance its market presence and technological expertise. Additional details were covered in the company’s earlier regulatory disclosures.
Recent news on CG Power:
As of February 1, 2025, CG Power and Industrial Solutions Ltd reported a 68% drop in consolidated net profit to ₹237.85 crore for Q3 FY25, impacted by adjusted earnings from discontinued operations, while continuing operations profit grew 21% year-on-year.
Stock performance of CG Power for Period of 1 week, 6 months, and 1 year:
CG Power & Industrial Solutions Ltd saw a 0.88% decline in the past week and a 14.9% drop over six months. However, the stock demonstrated strong long-term growth, delivering a 33.3% return over the past year.
Shareholding pattern of CG Power:
| Particulars | Dec 2024 | Sep 2024 | Jun 2024 |
| Promoter | 58.10% | 58.10% | 58.10% |
| FII | 14.30% | 14.60% | 14.60% |
| DII | 11.90% | 11.40% | 11.10% |
| Public | 15.70% | 15.90% | 16.20% |
About CG Power:
CG Power & Industrial Solutions Ltd (NSE: CGPOWER) is a global company providing comprehensive solutions for efficient and sustainable electrical energy management. It operates in Power Systems and Industrial Systems segments, catering to utilities, industries, and consumers.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.
News Author
Aliceblue News Desk
