Ace Men Engg Works Ltd — Important, 25-11-2025: Company Update

The company's board has approved the allotment of 98.16 lakh equity shares on a preferential basis to non-promoters at Rs. 64 each. This share swap, valued at Rs. 62.82 Cr, completes the acquisition of 100% of M/s Manibhadra Industries Private Limited (MIPL) at Rs. 640 per share, making MIPL a subsidiary. MIPL operates in the lighting industry, covering indoor/outdoor lighting and cables. This strategic acquisition expands the company's business, diversifies operations, and aims to enhance market position and unlock new growth opportunities for shareholders.