Force Motors Executes MOU for 100% Acquisition of Veera Tanneries
Filing Summary
Force Motors Limited has executed a Memorandum of Understanding (MOU) to acquire 100% of Veera Tanneries Private Limited (VTPL). The acquisition involves a total consideration of Rs.175 Crores, subject to applicable taxes and due diligence. The MOU was signed on February 6, 2026, with definitive agreements to follow based on mutually agreed terms. This update follows a prior intimation dated February 4, 2026, under SEBI regulations. The transaction aligns with Force Motors’ strategic objectives.
On February 6, 2026, Force Motors Limited executed a Memorandum of Understanding (MOU) to acquire 100% of the shares in Veera Tanneries Private Limited (VTPL). The total consideration for this acquisition is Rs.175 Crores, subject to the deduction of applicable taxes. The transaction is contingent upon the completion of requisite due diligence and the finalization of mutually agreed terms and conditions, which will be detailed in the definitive agreements.
This disclosure follows a previous intimation made by Force Motors on February 4, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The necessary disclosures as per SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, have already been provided in the earlier communication.
Force Motors Limited is engaged in the manufacturing of commercial vehicles, utility vehicles, and agricultural tractors. The company focuses on expanding its market presence through strategic acquisitions and partnerships. This acquisition is part of Force Motors’ ongoing efforts to enhance its business operations and product offerings.