In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable provisions, we wish to inform you that the Board of Directors ....
Awaiting price reaction for this filing.
Shah Foods Ltd's board approved a major acquisition and two preferential share issues. The company will acquire 100% of Tandhan Power Technologies Private Limited (TPTPL), a battery and power storage business with FY25 standalone turnover of Rs. 144.35 crore, for a total consideration of Rs. 99.28 crore to be paid entirely through a share swap. To fund this, Shah Foods will issue up to 1.58 crore equity shares at Rs. 62.50/share to TPTPL's shareholders. Separately, it will raise up to Rs. 75.16 crore in cash by issuing up to 68.32 lakh shares at Rs. 110/share to non-promoter public investors. The board also approved increasing authorised share capital from Rs. 1 crore to Rs. 24 crore, enhancing borrowing and investment limits to Rs. 500 crore each, appointing a new non-executive director, and shifting the registered office from Gujarat to West Bengal. An EGM is scheduled for 6th March 2026 to seek shareholder approvals.
This is a transformative deal for Shah Foods — it is shifting its business focus from food to power/battery solutions via a share-swap acquisition of a much larger company, leading to significant dilution for existing shareholders. The fresh cash raise at Rs. 110/share will strengthen the balance sheet, but the combined effect will materially reshape the company's scale, business profile, and shareholder base.