Acquisitions28 Oct 2026, 11:57 am
Kuber Udyog Allots Equity Shares & Warrants on Preferential Basis
AI Summary
Kuber Udyog Ltd announced the Board's approval for the allotment of 7,62,85,000 Equity Shares at ₹23.10 each for cash consideration towards the acquisition of 100% equity shares of Golden Ikon Fleet Management Private Limited, making it a wholly-owned subsidiary. Additionally, 3,95,50,000 Equity Shares were allotted on a preferential basis to non-promoters at ₹23.10 per share. The company also approved the allotment of 37,00,000 warrants at ₹23.10 each, convertible into equity shares within 18 months. The total consideration for Golden Ikon acquisition is ₹176.225 Crores.
Key Highlights
- Acquisition of Golden Ikon Fleet Management Private Limited approved.
- 7.62 Crore equity shares allotted for Golden Ikon acquisition.
- 3.95 Crore equity shares and 37 Lakh warrants allotted to non-promoters.
- Allotment price for shares and warrants is ₹23.10 per unit.
- Golden Ikon will become a wholly-owned subsidiary post-acquisition.
Price Impact
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