Euro Asia Exports Ltd — Updates, 01-01-1970: Company Update

RRP Defense Limited (formerly Euro Asia Exports Limited) is subject to an open offer by Mr. Rajendra Kamalakant Chodankar. He aims to acquire up to 3.46 crore equity shares at ₹10 each, following his purchase of promoter shares and a preferential allotment, solidifying his management control. The company recently announced a joint venture to manufacture advanced drone systems in India. Financially, the company reported a significant profit after tax of ₹1.14 crore for the latest fiscal year, compared to ₹0.02 crore previously. Post-offer, public shareholding will fall, but the acquirer is committed to meeting regulatory requirements.