Remsons Industries Limited has informed the Exchange regarding Proceedings of undefined held on May 06, 2025
REMSONSIND · price
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Remsons Industries held its Extra Ordinary General Meeting (EGM) on May 6, 2025, via video conferencing, attended by 31 members and all key directors and KMPs. The main business item considered was a Special Resolution to issue and allot 3,19,994 fully paid-up equity shares of Rs. 2 each at an issue price of Rs. 132 per share (including a premium of Rs. 130 per share). These shares are being issued as consideration for acquiring 26,400 equity shares of Rs. 10 each of Astro Motors Private Limited. The meeting lasted about 18 minutes, and voting results were to be declared within 2 working days. A corrigendum to the EGM notice had earlier been issued on May 2, 2025, following observations from NSE.
The EGM outcome will clarify whether shareholders approved a share-swap acquisition of Astro Motors Private Limited, which would lead to a small equity dilution (under 4% based on typical share base) and expand the company's business via acquisition. Share price may react once the voting results and final acquisition details are disclosed.