Remsons Industries Limited — Board Meeting, 09-04-2025: Outcome of Board Meeting

The Board of Directors has approved the acquisition of a 51.01% stake in Astro Motors Private Limited. This includes subscribing to 62,500 new equity shares at ₹1,600 per share for a total of ₹10 Crore and acquiring 26,400 shares from existing promoters in exchange for issuing 3,19,994 new equity shares at ₹132 each. The transaction will be subject to shareholder approval in an Extraordinary General Meeting scheduled for 6th May, 2025. This acquisition will make Astro Motors a subsidiary, enhancing Remsons' positioning in the electric vehicle sector.