AION-TECH SOLUTIONS LIMITED has informed the Exchange about Giving guarantees/indemnity/ becoming a surety for third party
GOLDTECH · price
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AION-TECH Solutions held a board meeting on May 12, 2025 with four key decisions. First, the company allotted 1,76,79,770 equity shares at Rs. 110 per share (Rs. 100 premium), raising about Rs. 194.48 crore worth of shares issued for non-cash consideration to existing shareholders of its subsidiary ETO Motors Private Limited. Second, the board approved setting up a wholly owned subsidiary in Dubai, UAE for software development and consulting. Third, it approved an additional investment of up to Rs. 2.97 crore in Roqit Green Fleet Digital Solutions, its wholly owned subsidiary working on EV and hydrogen mobility technology. Finally, the company will pledge Fixed Deposit Receipts worth up to Rs. 10 crore as security for a credit facility of up to Rs. 10 crore being availed by its subsidiary ETO Motors, creating a contingent liability on a standalone basis.
Shareholders should note a significant dilution of around 1.77 crore new shares issued to ETO Motors shareholders, which substantially expands the company's stake in ETO Motors. The Rs. 10 crore guarantee for ETO Motors adds contingent liability on a standalone basis but is neutral on a consolidated basis, signaling continued support for subsidiary growth.