Acquisition of two electronics firms via share swap; capital and auditor changes
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Board approved 100% acquisition of Blisstering Electronics (electronic components, FY26 turnover about Rs 164.69 crore) and Bliss Cab Electronics (wires and cables) via share swap. Around 5.67 crore shares at Rs 14 each (aggregate about Rs 79.45 crore) will be issued to 68 investors. Both targets are outside the company's core infrastructure line. Authorised share capital was raised from Rs 7.5 crore to Rs 64 crore. Statutory auditor Prakash Tekwani and secretarial auditor Utkarsh Shah resigned and were replaced; two independent directors resigned and Mr. Atul Chauhan was appointed as independent director.
Heavy share dilution (new investors get around 89.76% post-issue); pivot from infrastructure to electronics business; several governance changes in one board meeting.