AGI Greenpac Limited has informed the Exchange under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding investment in Madoverbuilding AI Private Limited by the Company.
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AGI Greenpac has agreed to invest up to ₹5.99 crore in Madoverbuilding AI Private Limited (MOB AI) for up to 25% stake on a fully diluted basis, through subscription of preference shares in two equal tranches of ~₹3 crore each. The first tranche (giving 14.28%) is expected to close in about a month; the second tranche, bringing total holding to 25%, is due within 15 months and depends on MOB AI hitting certain milestones. MOB AI is a young e-commerce and B2B marketplace startup (incorporated Dec 2021) focused on building, construction and interior materials, with turnover of ₹3.27 crore in FY24. The deal is not a related-party transaction, requires no regulatory approvals, and is outside AGI Greenpac's core glass and packaging business, though the company says it complements its operations.
The investment size is very small relative to AGI Greenpac's scale, so the direct financial impact is limited. However, it signals a strategic push into B2B e-commerce for building materials, which could be a positive diversification move if the startup scales up.