AION-TECH SOLUTIONS LIMITED has informed the Exchange about General Updates regarding for incorporating a Wholly Owned Subsidiary in Dubai, UAE
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AION-TECH Solutions' board, at its May 12, 2025 meeting, approved the allotment of 1.76 crore equity shares at Rs. 110 each (totalling about Rs. 194.48 crore) to existing shareholders of ETO Motors Private Limited as consideration other than cash, effectively acquiring ETO Motors via a share swap. The board also approved incorporating a 100% Wholly Owned Subsidiary in Dubai, UAE focused on software development, reselling and consulting, expected to be set up within 1-2 months. Additionally, the company will invest up to Rs. 2.97 crore in its existing WOS Roqit Green Fleet Digital Solutions, which works on EV and hydrogen mobility technology. The board further approved pledging Fixed Deposit Receipts of up to Rs. 10 crore as security for credit facilities of subsidiary ETO Motors.
This is a transformative move for AION-TECH — the ETO Motors share-swap acquisition significantly expands its EV/mobility business and will dilute existing shareholders, while the Dubai WOS signals international expansion plans. Investors should watch for the next-stage details on the ETO deal and monitor execution of the Dubai subsidiary rollout.