Dynamatic approves Dynauton share issue and transfer of UAV business
DYNAMATECH · price
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The board approved a preferential issue of 89.90 lakh Dynauton shares. DTL will subscribe to 74.90 lakh shares at Rs 50 each, including a Rs 40 premium, below the Rs 110 minimum, for Rs 37.45 crore. An employee share trust would hold 11.11 percent, and the founder 5.56 percent, leaving DTL with 83.33 percent. DTL will also transfer the UAV business and related assets to Dynauton for Rs 29.18 crore by 31 December 2026, subject to approvals.
DTL retains control of Dynauton as its stake falls to 83.33 percent. DTL shareholders face no dilution. Payment of Rs 29.18 crore needs approvals.