Classic Electrodes (India) Ltd Bolsters Portfolio with 18.89% Stake in HM Power and Cables Pvt Ltd

Classic Electrodes (India) Ltd has completed the acquisition of an 18.89% stake in HM Power and Cables Private Limited, a related party engaged in the manufacturing, importing, exporting, and supply of electric and electronic wires and cables. The transaction involved the preferential allotment of 15 lakh equity shares at ₹10 each, amounting to a total investment of ₹1.5 crore, and was finalized on November 27, 2025. HM Power and Cables Pvt Ltd, incorporated in January 2024, is currently in its early business phase with no revenue generated so far.

 

The acquisition is classified as a related party transaction since Mr. Hanuman Prasad Agarwal, a promoter director of Classic Electrodes (India) Ltd, holds significant influence over HM Power and Cables Pvt Ltd. The deal was executed at arm’s length and within the ordinary course of business, ensuring compliance with regulatory norms. Classic Electrodes (India) Ltd has stated that the investment is intended to strengthen its strategic business portfolio and unlock future synergies, aligning with its growth and diversification objectives.

 

Key Highlights:

Source references: Stock Exchange Corporate Announcement, Classic Electrodes (India) Ltd official announcement.