Prabhhans Industries to Acquire MTOW Mobility and Reown Device via Share Swap

Prabhhans Industries Limited's Board of Directors has approved the acquisition of 100% of Mtow Mobility Private Limited (MTOW) and Reown Device Private Limited (REOWN) through a Share Swap Agreement (SSA). The company also approved an increase in authorized share capital from ₹12 Crores to ₹38 Crores. A preferential issue of up to 2,83,68,750 equity shares at ₹41.30 per share will be made to MTOW and REOWN shareholders for the acquisition. Additionally, the company plans to issue up to 3,345,000 convertible warrants at ₹41.30 each, raising up to ₹13.81 Crores in cash. An Extraordinary General Meeting (EGM) is scheduled for September 30, 2026, to seek shareholder approval for these transactions.