Suprajit Engineering Gets NCLT Nod For Phoenix Lamps Acquisition

Indian auto parts manufacturer Suprajit Engineering has received approval from National Company Law Tribunal (NCLT) for the acquisition of its subsidiary company Phoenix Lamps Ltd.

This information was given by Suprajit Engineering in a regulatory filing on Thursday (17 August).

Talking about the benefits of the amalgamation, the manufacturer sad that a combined entity will prove to generate immense benefits on a larger scale of economics and combined entity will have powers to negotiate with vendors, customers and other stakeholders.

Greater financial strength and flexibility for the amalgamated entity, would result in optimizing the leverage with respect to debt and equity and maximize over shareholder value.

Moreover, aarger integrated entity will improve the competitive position of the combined entity and greater efficiency in cash management of the amalgamated entity and benefits of operational synergies and reduce duplication of a host of tax and regulatory requirements.

The company further added, cost savings are expected to flow from optimizing marketing channels and improved sales by cross selling and better customer management and higher business opportunity etc.