Himachal Futuristic Communications (HFCL) has acquired 90% of the equity shares of RADDEF thereby making it a subsidiary of the Company, w.e.f. May 15, 2019. The acquisition would result in benefit of operational synergies and the Company will be able to explore untapped growth in the Telecom and Defence business verticals of the company. The cost of acquisition is Rs 90,000 towards 9,000 fully paid-up equity shares.
HFCL is one of India’s largest telecom network turnkey implementation companies, with wide and deep capabilities and domain expertise in rolling out advanced telecom networks.
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