VECV to Raise Stake in Connected Solutions JV to 74% for INR 11.01 Million
VE Commercial Vehicles will acquire an additional 23% stake in its connected solutions joint venture VE Connected Solutions from iTriangle Infotech for INR 11.01 million, increasing its holding to 74%.
- INR 11.01 million
- 74%
- INR 911 million
What Happened
VE Commercial Vehicles Ltd (VECV), a subsidiary of Eicher Motors Ltd, has approved increasing its stake in VE Connected Solutions Pvt Ltd (VECS) from 51% to 74%. The transaction involves acquiring an additional 23% stake from joint venture partner iTriangle Infotech Pvt Ltd for a cash consideration of INR 11.01 million. Following the deal, iTriangle's holding in VECS will reduce to 26%. VECS, formerly Aquila Mobility Solutions Pvt Ltd, was formed in May 2024 and began operations in August 2024. The company reported turnover of INR 911 million for FY2025-26, up from INR 330.4 million the previous fiscal year.
INR 911 millionINR
up from INR 330.4 million in the previous fiscal year
VE Connected Solutions (formerly Aquila Mobility Solutions) formed as a JV between VECV and iTriangle Infotech.
VECS began operations.
VECV expects to complete the acquisition of an additional 23% stake, raising its holding to 74%.
Why this matters
This acquisition gives VECV majority control of a company developing telematics, connected vehicles, and driver monitoring systems, which are key for modern fleet management and regulatory compliance.
Terms in This Story
- telematics
- The use of telecommunications and informatics to transmit data from vehicles for tracking, monitoring, and management.
- connected vehicles
- Vehicles equipped with internet access and wireless connectivity to communicate with external systems such as other vehicles, infrastructure, and cloud services.
- joint venture (JV)
- A business arrangement where two or more parties pool resources to undertake a specific project, sharing ownership, risks, and profits.
Summarised from the linked release; details can be imperfect — always verify against the original source.