ACS Technologies Approves Preferential Issue of ₹20 Cr Equity

ACS Technologies Ltd announced that its Board of Directors has approved a preferential issue of up to 49,50,495 equity shares at ₹40.40 per share, aggregating to ₹20 crore. The shares will be issued to Adiniya Investments Private Limited against utilization of existing unsecured loans. The company also approved the appointment of Group Captain MJ Vinod Augustine (Retd) as the new Chief Executive Officer (CEO) and Key Managerial Personnel (KMP) with immediate effect. The equity shares issued will rank pari passu with existing shares. Shareholder approval will be sought via postal ballot.