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I Power Solutions India Limited has announced a board meeting on which it approved the allotment of 14.5 lakh equity shares at Rs.20 each (including a Rs.10 premium) on a preferential basis, raising Rs.2.9 Cr. The allotment was made to three investors: Neena Dharod, J. Murali Krishna, and Tushar P Shah. Following this, the paid-up equity share capital increased from Rs.4.45 Cr to Rs.5.9 Cr, expanding the share base to 58.99 lakh shares. This capital infusion strengthens the company's financial position and supports future growth initiatives.