Varroc Engineering To Acquire 45% Stake In Forsee Power India

Varroc Engineering will acquire a 45% equity stake and subscription to 80,380 preference shares in Forsee Power India for up to €4.5 million.
The transaction is expected to conclude by December 31, 2026, marking a strategic move into the EV battery systems market.

Reader Takeaway: This acquisition strengthens Varroc’s EV supply chain footprint, though completion depends on meeting specified contractual conditions.

What just happened

Varroc Engineering’s board approved the acquisition of 2,95,398 equity shares and 80,380 Optionally Convertible Redeemable Preference Shares (OCRPS) in Forsee Power India. The total deal value is capped at €4.5 million. The company is currently engaged in the manufacturing and validation of battery packs and management systems specifically for electric mobility applications.

Why this matters

This investment is a direct play on the growing electric vehicle ecosystem in India. By securing a 45% stake, Varroc gains a strategic foothold in battery management technology, which is a critical component for EV original equipment manufacturers. Forsee Power India has shown consistent activity, reporting revenue of Rs 18.83 crore in FY2026 (unaudited).

Risks to watch

The deal remains subject to the fulfillment of conditions precedent outlined in the Securities Subscription and Purchase Agreement (SSPA). Investors should watch for the successful closure of the deal by the end of 2026 and monitor how this entity’s financial performance integrates into Varroc’s consolidated balance sheet in the coming years.

Context metrics

Forsee Power India reported revenues of Rs 2.18 crore in FY2023, rising to Rs 16.04 crore in FY2024, Rs 10.57 crore in FY2025, and Rs 18.83 crore in FY2026.