On 16 May 2025, Endurance Technologies Limited, a major player in the Indian auto components sector, announced the successful acquisition of the remaining 38.50% equity stake in Maxwell Energy Systems Private Limited, making it a wholly-owned subsidiary of the company. This update was disclosed to both BSE and NSE in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Previously, Endurance Technologies held a 61.5% majority stake in Maxwell Energy Systems Private Limited (“Maxwell”), a company engaged in the development and supply of energy management and power conversion systems for electric vehicles (EVs).

The recent transaction involved the acquisition of 52,749 equity shares of face value Re. 1 each, representing the remaining 38.50% stake in Maxwell. The deal was executed under a Share Purchase Agreement (SPA) signed with minority shareholders on 8 May 2025.

The total consideration paid for the stake acquisition amounted to ₹7,50,09,078 (Rupees Seven Crore Fifty Lakh Nine Thousand and Seventy Eight only). Upon completion of the transaction, all rights, titles, interests, and benefits in the said equity shares were transferred to Endurance Technologies.

As a result, Maxwell Energy Systems has officially become a wholly-owned subsidiary of Endurance Technologies, effective 16 May 2025.

Strategic Significance:

This acquisition signifies Endurance Technologies’ long-term commitment to strengthening its presence in the electric mobility and energy systems segment. By securing 100% control of Maxwell, the company gains greater flexibility in:

• Strategic decision-making

• Operational integration

• Product innovation, particularly in battery management systems (BMS), motor controllers, and energy-efficient solutions for EVs

The full ownership could potentially lead to enhanced synergy between Endurance’s core manufacturing capabilities and Maxwell’s electronic systems expertise, which is crucial in the evolving electric vehicle ecosystem.

Background and Prior Holding:

Endurance Technologies had earlier acquired a majority stake (61.5%) in Maxwell, with the minority stake held by individual investors. The new development finalizes its ambition to fully consolidate Maxwell's operations within its own business verticals.

The acquisition was approved by the Board earlier this month, and the SPA was executed on 8 May 2025. With this financial transaction completed, Endurance has now completed the full integration of Maxwell.

Compliance and Regulatory Disclosures:

This acquisition has been made in accordance with the applicable provisions of the Companies Act, 2013 and SEBI LODR Regulations, 2015, ensuring corporate governance and transparency.

The notification was formally addressed to:

• BSE Limited (BSE Code: 540153)

• National Stock Exchange of India Limited (NSE Code: ENDURANCE)

The filing confirms that the final stake transfer was completed on 16 May 2025, and the announcement has been signed off by Mr. Sunil Lalai, Company Secretary and Executive Vice President – Legal.

Key Summary of the Acquisition:

• Acquired Entity: Maxwell Energy Systems Private Limited

• Previous Holding: 61.5%

• Acquired Stake: 38.5% (52,749 equity shares of Re. 1 each)

• Transaction Value: ₹7,50,09,078

• Effective Date of Completion: 16 May 2025

• Result: Maxwell becomes a wholly-owned subsidiary of Endurance Technologies

The Upcoming IPOs in this week and coming weeks are Victory Electric Vehicles International, Borana Weaves, Dar Credit and Capital,Belrise Industries, Wagons Learning.

The Current active IPO are Accretion Pharmaceuticals.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst