Amalgamated Electricity Plans ₹650 Cr Preferential Allotment

Amalgamated Electricity Company Ltd announced a significant preferential allotment of up to 130,00,00,000 equity shares at ₹5 each, aggregating to ₹650,00,00,000 (₹650 Crore). This issuance is to identified non-promoter investors for cash. The company's board also approved alterations to its Memorandum of Association (MOA) to include new business objects, such as acquiring electricity licenses and undertakings from other entities and generating, distributing, and supplying electrical power. Additionally, the board approved the resignation of its CFO, Mr. Mangesh Narayan Shirodkar, and initiated a postal ballot process for member approval, with the e-voting closing on October 31, 2026.