Summary of Key Information:
Nature of Filing / Announcement: Outcome of Board Meeting - Addendum to AGM Notice for Related Party Transaction
Corporate Actions:
The Board of Directors has approved an addendum to the Notice of the 55th Annual General Meeting to include Item No. 4 for shareholder approval of the following:
- Acquisition of shares of Satelite Forgings Private Limited, a related party
- Maximum consideration: ₹100 Crores (Rupees One Hundred Crores only)
- Transaction type: Acquisition/purchase of equity shares
- Requires special resolution under Section 177, 179, 186 of Companies Act, 2013 and Regulation 23 of SEBI LODR Regulations
- Reason: Strategic/economic benefits and potential value creation for the Company
Other Significant Information:
Relationship Details:
- Satelite Forgings Private Limited is a related party with common Ultimate Beneficial Owner
- Company operates as manufacturer of forged and machined auto components for OEM's, railways and other auto component manufacturers
- Country of incorporation: India
Transaction Details:
- Type: One-time transaction acquisition
- Source of funds: Through issue of securities/internal accruals/available cash resources/other permissible means
- No material covenants or financial indebtedness involved
- No defaults by related party in previous transactions
AGM Details:
- 55th Annual General Meeting scheduled for Wednesday, September 30, 2026 at 09:30 AM (IST)
- Meeting venue: Registered office at Plot No. 73-74, Phase-III, Industrial Area, Dharuhera, District-Rewari-123106
- Original AGM notice dispatched on September 7, 2026