Elitecon International Ltd — Others, 01-08-2025: Others

Elitecon International's board has approved key strategic moves, including the acquisition of Ashicore International Private Limited for up to 350 Cr. This related-party transaction gives Elitecon 100% control, expanding its footprint in the FMCG sector. To fund this, the board approved a Qualified Institutions Placement (QIP) to raise up to 300 Cr. Additionally, the company is shifting its registered office to Maharashtra and appointing two new independent directors. These strategic decisions, aimed at driving long-term value, will be presented to shareholders for approval at an upcoming Extraordinary General Meeting.