Remsons Industries Limited — Important, 09-04-2025: General Updates

The Board of Directors has approved the acquisition of a 51.01% stake in Astro Motors Private Limited, which is valued at approximately Rs. 14.22 Crore. The acquisition will be executed through a preferential issue, involving the subscription to 62,500 new equity shares at Rs. 1,600 each, aggregating to Rs. 10 Crore, and the purchase of 26,400 existing shares in exchange for 3,19,994 new shares to be issued at Rs. 132 each.

Astro Motors specializes in electric vehicles for cargo and passenger transport, and after this acquisition, it will become a subsidiary of Remsons Industries. The company aims to complete the acquisition by June 30, 2025, subject to shareholder approval during the upcoming Extraordinary General Meeting on May 6, 2025. This strategic move enhances Remsons' portfolio in the promising electric vehicle sector, presenting significant growth opportunities for shareholders.