Acquisition

Krishna Defence and Allied Industries Limited has acquired 2,500 equity shares in Waveoptix Defence Solutions Private Limited, increasing its stake from 25% to 40%. This strategic move aims to convert an outstanding loan into equity and support the growth of the associate company, thereby fostering overall growth for the group.

The acquisition is valued at ₹19,000 per share and is classified as a related party transaction, executed at arm's length.

Waveoptix specializes in RF-over-Fiber systems and solutions for the defense and aerospace sectors, contributing a turnover of ₹10.84 crore for the year 2023-24.