Aar Shyam India Investment Company Limited approved the acquisition of 100% equity in SVR Electro Projects Private Limited through a share swap and a cash-backed preferential allotment. The board also sanctioned a name change to Avudari Engineering Limited and expanded borrowing limits.

The acquisition involves issuing up to 1,45,41,000 equity shares at a swap ratio of 4.847:1 for non-cash consideration. Additionally, the company will issue up to 49,33,333 shares at ₹15 per share to identified investors, raising approximately ₹7.4 crore. The target entity reported a turnover of ₹7321.74 lakh and a PAT of ₹493.54 lakh for FY26.

Strategic Expansion and Rebranding

The board proposed altering the Memorandum of Association to focus on renewable energy, facility management, and engineering services. The company seeks shareholder approval to change its name from Aar Shyam India Investment Company Limited to Avudari Engineering Limited. This rebranding aligns with the strategic shift toward infrastructure and clean energy projects.

The acquisition aims to strengthen execution capabilities in solar energy and railway maintenance. Management stated that integrating SVR’s technical expertise and skilled manpower will enhance operational efficiencies and expand the order book for government and public sector tenders.

Capital Structure and Governance Changes

The board recommended increasing borrowing limits under Section 180(1)(c) of the Companies Act, 2013. The standalone limit is set at ₹400 crore, while the consolidated limit for the company and its subsidiaries is ₹900 crore. Additionally, investment and loan limits under Section 186 are proposed to increase by ₹1,000 crore over prescribed statutory limits.

M/s. Garg Agrawal & Agrawal resigned as statutory auditors effective August 21, 2026. The board appointed M/s. Viresh Verma & Co., Chartered Accountants (Firm Registration No. 026874N), as the new statutory auditors for a five-year term, subject to shareholder approval at the ensuing Annual General Meeting (AGM). The appointment was made based on the recommendation of the Audit Committee. M/s. Viresh Verma & Co. will hold office from the conclusion of the 43rd AGM until the conclusion of the 48th AGM in calendar year 2031. The firm has no relationships with any Director or Key Managerial Personnel of the company.

What the Numbers Show

SVR Electro’s financial trajectory indicates consistent growth leading up to the acquisition. The target’s turnover rose from ₹36.57 crore in FY24 to ₹73.22 crore in FY26. Simultaneously, EBITDA grew from ₹4.45 crore to ₹9.79 crore over the same period. This doubling of both revenue and operating profit suggests improving operational leverage, validating the strategic rationale for the full-stake acquisition.

Key Dates and Shareholding Impact

The 43rd AGM is scheduled for September 21, 2026. The register of members will remain closed from September 15, 2026, to September 21, 2026. Post-allotment, Radha Krishna Avudari is projected to hold 53.22% of the company’s equity, consolidating control following the preferential issue.

Aar Shyam India Investment Company Limited announced the resignation of its statutory auditor, M/s. Garg Agrawal & Agrawal, effective August 21, 2026.

The company filed an intimation with the BSE Listing Department under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resignation follows sub-clause (7A) of Part A of Schedule III of the SEBI LODR.

Regulatory Disclosures

In compliance with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023, the firm provided detailed disclosures regarding the resignation. These documents are enclosed as Annexure I and Annexure II in the filing.

The resignation letter, dated August 21, 2026, outlines the reasons for stepping down. Additionally, information required under SEBI Circular No. CIR/CFD/CMD1/114/2019 dated October 18, 2019, has been submitted to the exchange.

Next Steps

The Board of Directors will fill the casual vacancy caused by this resignation. The appointment process will adhere to the Companies Act, 2013, and SEBI LODR Regulations within prescribed timelines.

The company will intimate the stock exchange regarding the appointment of a new statutory auditor in due course.