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Gujarat Apollo Industries announces acquisition of Mehsana-based Fieldtrack Earthmovers

09-Dec-2024, 10:05

Gujarat Apollo Industries announced that its wholly owned subsidiary AEML Investments (formerly known as Apollo Earthmovers) (AEML) has entered into a Share Purchase Agreement on 07 December 2024 with the shareholders of the company, Fieldtrack Earthmovers (FEPL) for purchasing 100% equity shares of a face value of Rs 10/- in a phased manner at an aggregate consideration of not exceeding Rs 49 lakh. AEML shall constitute 100% of the issued and paid up share capital of FEPL upon completion of the full subscription.

FEPL is based in Mehsana district of Gujarat State and is manufacturing agricultural equipment and related machinery such as Mini Tractors (15 hp to 25 hp) and related attachments.