Preferential Issue and South Korea Battery Firm Acquisition Approved

Shareholders approved two preferential allotments at Rs. 15 per share. First, 26.67 lakh shares to Independent Director JrMichael Commiskey for Rs. 4 crore. Second, up to 19.91 crore shares worth about Rs. 298.67 crore to acquire 95 percent in Magnatech Co. Ltd, South Korea via 1:12 share swap, no cash outflow. Magnatech makes NMC and LFP battery cells and LED lighting, CY2025 turnover Rs. 44.65 crore. Deal is a related party transaction as promoters hold stake in target. Post issue promoter holding 50.17 percent, public 49.83 percent.