Announced Mon, 21 Sept, 2026 · 17:34 IST

Revised board outcome: Shakti Auto acquisition, name change and preferential issues

Fund Raising View source PDF Explain this filing

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AI summary

Revised filing correcting a typo in Annexure III. Board approved 100% acquisition of Shakti Auto Industries Pvt Ltd (aluminium alloy maker, FY26 turnover Rs 545.51 Cr) via share swap of 2.05 Cr shares. Also approved cash preferential issue of 7.22 Cr shares at Rs 10 each (about Rs 72.16 Cr). Other items include name change to Shakti Auto Industries Ltd, shifting registered office to Maharashtra, and raising borrowing limit to Rs 500 Cr. EGM on Sept 30, 2026.

Likely market impact

Major transformation - acquisition, name change and large equity dilution could reshape the company but significantly dilute existing shareholders.