Shilpi Cable Technologies Limited (BSE:533389) agreed to acquire Gulf Aglow Lighting Ltd on December 30, 2016. The consideration will be paid in cash. The transaction is subject to necessary regulatory approvals including approval from FEMA and RBI. The transaction has been approved by the Board of Directors of Shilpi Cable Technologies. The acquisition is expected to be completed within three months. Shilpi Cable Technologies Limited (BSE:533389) canceled the acquisition of Gulf Aglow Lighting Ltd on December 30, 2017.