Elitecon International Ltd — Board Meeting, 09-07-2025: Board Meeting

Elitecon International Limited has announced a board meeting to approve the acquisition of Prime Place Spices Trading L.L.C, a Dubai-based FMCG trading company with a turnover of AED 160.15 million (approx. Rs. 310 Cr). The acquisition, valued around Rs. 700 Cr, aims to expand Elitecon’s presence internationally in the FMCG sector. Additionally, the company plans to raise up to Rs. 300 Cr via Qualified Institutions Placement (QIP) and issue equity shares worth Rs. 400 Cr through a preferential share swap. An Extraordinary General Meeting will be held to seek member approvals for these proposals.