ACI Infocom Board approves preferential issue of shares and warrants, change in control
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ACI Infocom board approved raising funds via preferential issue of 3.2 crore equity shares at Rs 1.53 each (Rs 4.90 crore) and 29.48 crore convertible warrants at Rs 1.53 each (Rs 45.10 crore). This triggers open offer and change in control with Sanjay Mandavia and Rupal Mandavia becoming new promoters. Authorized capital increased from Rs 13.50 crore to Rs 50 crore. Company plans to enter aviation, aerospace, defence and infrastructure. EGM on September 9, 2026.
Significant dilution expected. Change in control with new promoters Mandavia family. Business pivot to aviation and defence. Open offer triggered.