Introduction:
Electric vehicle tech firm has signed a Share Purchase Agreement to acquire 69.84% of DC2 Mercury Cars Private Limited for ₹2.5 crore. The deal positions the firm as the majority shareholder, enhancing its presence in the automotive sector.
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Share price movement of Mercury EV-Tech:
On January 2, 2025, Mercury Ev-Tech Ltd opened at ₹99.26, up 4.99% from its previous close of ₹94.54. The stock reached a high of ₹99.26 and a low of ₹95.16. By 9:53 AM, it traded at ₹96.80, a 2.39% increase, with a market cap of ₹1,699.30 crore.
Mercury EV Tech Acquires Majority Stake in DC2 Mercury Cars:
On January 1, 2025, Mercury EV Tech Limited executed a Share Purchase Agreement with DC2 Mercury Cars Private Limited and Anushree B. Chhabria for the acquisition of 69.84% of the company’s equity shares, amounting to ₹2.5 crore.
The target company, DC2 Mercury Cars, has a paid-up capital of ₹3.58 crore, divided into 35.8 lakh equity shares. With the agreement, Mercury EV Tech will purchase 25 lakh shares from the seller at ₹10 each, making it the majority shareholder.
Following the acquisition, DC2 Mercury Cars will become a subsidiary of Mercury EV Tech. The deal, finalized in a board meeting, aligns with Mercury EV Tech’s strategy to expand its presence in the automotive sector and increase operational control.
Recent news on Mercury EV-Tech:
As of November 26, 2024, Mercury Ev-Tech reported a 235.47% YoY increase in net sales to ₹13.91 crore for September 2024. Quarterly net profit rose 19.64%, and EBITDA improved by 34.86%, highlighting strong growth.
Stock performance of Mercury EV-Tech for Period of 1 week, 6 months and 1 year:
Mercury Ev-Tech Ltd has delivered a 17.0% return over the past week, demonstrating strong short-term performance. Over the last six months, it gained 30.5%, although it faced a 14.4% decline in its one-year return, reflecting mixed investor sentiment.
Shareholding pattern of Mercury EV-Tech:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 62.10% | 62.10% | 62.10% |
| FII | 0.20% | 0% | 0% |
| DII | 0% | 0.00% | 0.00% |
| Public | 37.70% | 37.90% | 37.90% |
About Mercury EV-Tech:
Mercury EV Tech Limited (NSE: 531357) is a comprehensive provider of electric vehicle solutions, manufacturing key components like batteries, chassis, and motor controllers. It aims to support sustainable development and Atmanirbhar Bharat with a wide range of EV products.
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.
