Ram Ratna Wires to acquire Epack stake in Epavo for ₹15 crore

Mergers & acquisitions
Electrical

Blacklitt Research29 October 20262 min read

Two steel lattice electricity pylons carrying power lines across an open plain at dusk. — Mostafameraji, via Wikimedia Commons (CC0). Illustrative image.

Ram Ratna Wires (NSE: RAMRAT) has approved the acquisition of 2,21,26,000 equity shares of Epavo Electricals Private Limited from Epack Durable Limited for ₹15.00 crore in cash, it said in a filing on 29 Oct 2026. On completion, expected by 30 Nov 2026, Epavo becomes a wholly owned subsidiary and the company's stake rises from 50% to 100%.

Key highlights

Consideration: ₹15.00 crore in cash
Price: ₹6.78 per share
Stake rises from 50% to 100%
Expected completion: 30 Nov 2026

The acquisition in numbers

Item	Detail
Target	Epavo Electricals Private Limited
Seller	Epack Durable Limited
Shares acquired	2,21,26,000 equity shares of face value ₹10 each
Stake before and after	50% to 100%
Price per share	₹6.78
Total consideration	₹15.00 crore, in cash
Expected completion	30 Nov 2026
Epavo incorporated	26 Aug 2020

A joint venture moves to full ownership

Epavo was set up in 2020 as a joint venture between Ram Ratna Wires and Epack Durable Limited, each holding 50% of its paid-up share capital. The two companies have mutually agreed to terminate the joint venture arrangement, and the company will acquire Epack's 50% stake in Epavo.

The company says the acquisition brings its shareholding in line with its responsibility for Epavo's day-to-day management and operations since inception. Epavo will continue to manufacture BLDC motors and air-movement solutions.

Epavo's turnover fell in FY 2025-2026

Epavo's turnover was ₹25.40 crore in FY 2025-2026, against ₹42.95 crore in FY 2024-2025 and ₹26.64 crore in FY 2023-2024.

Where the business fits the company's strategy

The company says holding Epavo's 100% share will support its strategy of participating more in the electric motor value chain. It also says BLDC motors are a downstream application of winding wires, the company's core product.

The same day, the company filed its results for the quarter and half year ended 30 Sep 2026.

What the acquisition means for Ram Ratna Wires shareholders

After completion, Epavo will be a wholly owned subsidiary of Ram Ratna Wires, which will hold 100% of its equity. The consideration is ₹15.00 crore in cash, at ₹6.78 per share, subject to the conditions in the Share Purchase Agreement. The next dated step is expected completion by 30 Nov 2026.

The filing does not state the effect of the acquisition on the company's revenue or profit, Epavo's profit or net worth, the source of funds for the cash payment, or whether the closing conditions have been fulfilled.

Reference: Original filing (PDF)

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