Kuber Udyog Approves Acquisition of Golden Ikon Fleet Management

Kuber Udyog Ltd's Board of Directors has approved the acquisition of 100% equity shares of Golden Ikon Fleet Management Private Limited. This strategic move involves increasing the company's authorized share capital from ₹5 Crores to ₹125 Crores. The acquisition will be funded through the issuance of 7,62,85,000 equity shares and 12,00,000 warrants to specific individuals and entities, including Mr. Manav Bahri, Mr. Dinesh Popli, Mr. Ajay Dutta, and M/s Trimudra Trade and Holdings Private Limited. Additionally, the company plans to issue 3,95,50,000 equity shares and 25,00,000 warrants to the public (non-promoters) for cash. The company also plans to alter its Memorandum and Articles of Association to include fleet management and facility management services, and potentially change its name. The board also approved increasing investment limits for FPIs, FIIs, and NRIs, and authorized increases in borrowing limits and creation of charges on company assets. The 44th Annual General Meeting is scheduled for September 5, 2026.