Board Meeting31 Aug 2026, 07:50 pm
Integra Switchgear Board Approves Capital Hike & Acquisition
AI Summary
Integra Switchgear Limited's Board of Directors, in a meeting held on August 31, 2026, approved a significant increase in authorized share capital from ₹4 Crore to ₹225 Crore. The board also sanctioned the preferential issue of up to 26,66,667 equity shares at ₹15 per share to Independent Director Mr. JrMichael Joseph Commiskey. Furthermore, the company will acquire a 95% stake in South Korea-based Magnatech Co. Ltd through a share swap, issuing up to 19,91,16,000 Integra shares at ₹15 each. The Annual General Meeting is scheduled for September 30, 2026, to seek shareholder approval for these proposals.
Key Highlights
- Authorized share capital increased from ₹4 Cr to ₹225 Cr.
- Preferential issue of shares to an Independent Director approved.
- Acquisition of 95% stake in South Korea's Magnatech Co. Ltd approved.
- Shareholder approval required for capital hike and acquisition.
- AGM scheduled for September 30, 2026, to approve key proposals.
Price Impact
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