Please find attached the outcome of board meeting held today.
Awaiting price reaction for this filing.
RRP Defense's board approved acquiring 100% of RRP Drones Innovation Pvt Ltd by issuing up to 1,27,45,935 equity shares at Rs. 178 per share (total deal value about Rs. 226.88 crore) through a share swap, making it a wholly owned subsidiary. The target company is in the drone and defence sector with FY25 turnover of Rs. 14.09 crore, and the transaction is a related-party deal as promoters are common. The board also formed a committee to evaluate a proposed merger of RRP S4E Innovation Ltd with the company. Additionally, the corporate office was shifted from Gurugram to Navi Mumbai.
Shareholders will see dilution as the company's paid-up capital rises from Rs. 13.72 crore to about Rs. 26.46 crore, but they gain exposure to the growing drone and defence segment. The acquisition is a related-party transaction and needs shareholder approval, so watch for the postal ballot outcome and any price revision by the Board.