AION-TECH SOLUTIONS LIMITED has informed the Exchange about General Updates regarding 1. Allotment of equity shares under preferential issue
GOLDTECH · price
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The board of AION-TECH SOLUTIONS LIMITED (formerly Goldstone Technologies) approved the allotment of 1,76,79,770 equity shares at Rs. 110 per share (Rs. 100 premium) aggregating to Rs. 194.47 crore to the existing shareholders of ETO Motors Private Limited for consideration other than cash, effectively a share-swap acquisition. The board also approved incorporating a wholly owned subsidiary in Dubai (UAE) focused on software development, reselling and consulting. Additionally, a further investment of up to Rs. 2.97 crore was approved in Roqit Green Fleet Digital Solutions Private Limited, a wholly owned subsidiary working on zero-emission fleet technology (EV and hydrogen mobility). The board also permitted offering fixed deposit receipts of up to Rs. 10 crore as security for credit facilities of ETO Motors, a subsidiary.
For retail shareholders, the main event is a large share issuance (about 1.77 crore new shares) which will dilute existing equity holders, though the funds are not coming in as cash - this is a share-swap to acquire stakes in ETO Motors. The Dubai subsidiary, Roqit investment, and FD-backed loan support for ETO indicate the company is expanding its EV/mobility technology footprint, but the contingent liability and equity dilution may weigh on the stock in the short term.