GTV Engineering Ltd — Important, 23-03-2026: Company Update

GTV Engineering's board has approved a strategic move to acquire 35.31% of Chirchind Hydro Power Private Limited (CHPPL) via a share swap, issuing up to 39,42,047 new equity shares at Rs 59.65 each. This approximately 23.52 Cr acquisition will make CHPPL, engaged in hydro power generation and heavy steel fabrication with a 32.60 Cr turnover, a subsidiary, diversifying GTV's business. Post-allotment, GTV's paid-up share capital will rise from 9.37 Cr to 10.16 Cr. The board also approved increasing the company's loan/investment limit to 100 Cr. All these actions require shareholder approval at an upcoming Extraordinary General Meeting.