Amalgamated Electricity Company Ltd — Important, 13-07-2026: Company Update

Amalgamated Electricity Company's Board approved a major strategic transformation. It is significantly increasing its authorized share capital from ₹2.25 Cr to ₹2,000 Cr and plans to issue 130 Cr equity shares at ₹5 each, raising up to ₹650 Cr from non-promoter investors. The company also approved changing its core business objectives from electricity to artificial intelligence, IT services, healthcare, vehicle distribution (including EVs), and marketing. Other approvals include altering its Articles of Association, relocating its registered office to New Delhi, and appointing two new directors. All these decisions await shareholder approval through a postal ballot.