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The Board of Directors of Evigo Charge Private Limited approved a resolution to convert a loan of ₹1.11 crore into 11,18,382 equity shares at ₹10 each. Following this conversion, Marine Electricals (India) Limited will maintain a 91.67% shareholding in its subsidiary. This strategic move underscores Marine Electricals' commitment to strengthening its position in Evigo Charge and reflects potential positive implications for future growth and collaboration within the renewable energy sector. Investors should monitor this development closely as it may enhance long-term value and operational synergies.