Gujarat Apollo Industries Limited — Important, 04-12-2024: General Updates

AEML Investments Limited, a material subsidiary of Gujarat Apollo Industries Limited, has entered into a Share Subscription and Purchase Agreement with Ganesh Agro Equipment Pvt. Ltd. Under this agreement, AEML will subscribe to up to 8,14,000 equity shares at an aggregate consideration not exceeding INR 10.99 crore (Cr) in a phased manner. Additionally, AEML plans to purchase up to 5,98,000 equity shares from existing shareholders for a consideration not exceeding INR 8.49 crore (Cr). Upon completion, AEML will hold 50% of GAE's issued and paid-up share capital. This investment aims to support GAE in the development of its agricultural machinery products, indicating potential growth opportunities in this sector.