Spectrum Electrical Industries Limited (NSEI:SPECTRUM) agreed to acquire 51% stake in Mechmaster Engineering Private Limited for INR 12 million on June 27, 2024. A cash consideration of INR 12 million will be paid by Spectrum Electrical Industries Limited. The deal has been approved by the by board of directors of Spectrum Electrical Industries Limited.

The transaction is expected to close in 7 days from the approval of the Board of Directors.