Akanksha Power and Infrastructure Limited — Important, 11-11-2024: General Updates

Akanksha Power and Infrastructure Ltd. has engaged in an exclusive technology partnership with Radio and Microelectronics Trading House (JSC "RiM ТD") for the manufacturing of medium voltage direct measurement sensors and smart electric meters, specifically for voltages up to 33 kilovolts. This collaboration aims to produce these products in India under the "Make in India" initiative, targeting markets in Asia, Africa, and Europe. The parties will enter into a technology transfer agreement with a fixed royalty structure, emphasizing the development of advanced electric meters capable of measuring critical electrical parameters. This partnership could significantly advance Akanksha's market position by introducing a technology currently unavailable in India, presenting a positive outlook for future growth opportunities.