Kabra Extrusiontechnik has entered into a collaboration with one of India’s top three two-wheeler manufacturers to develop and supply battery packs. The company, operating under its brand name GEON, received a Letter of Intent for the partnership on September 2, 2026.

The agreement covers the development and supply of two distinct battery programmes tailored for two-wheeler applications. This move aligns with the company’s broader strategy to expand its footprint in the electric mobility ecosystem.

Strategic Expansion

The collaboration represents a significant step in strengthening Kabra Extrusion Technik’s capabilities in advanced battery solutions. By partnering with a major vehicle manufacturer, the company aims to deepen its presence in the growing EV sector.

Regulatory Disclosure

The company made the disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Hiren Vala, Company Secretary and Compliance Officer, signed the intimation.

Kabra Extrusiontechnik shareholders approved the company’s ₹141 crore preferential issue of equity shares at an Extraordinary General Meeting (EGM) held on September 2, 2026. The special resolution was passed, validating the revised list of allottees which includes Mr. Rakesh Amarlal Hinduja as a replacement for a previously ineligible investor.

The EGM commenced at 4:00 pm and concluded at 4:40 pm (IST). Mr. Anand Kabra, Chairman and Managing Director, chaired the meeting. The requisite quorum was present, and all existing directors attended. Representatives from the Audit Committee, Risk Management Committee, and other statutory bodies were also present. The Company Secretary, Mr. Hiren Vala, and Chief Financial Officer, Mr. Bhavin Sheth, participated via video conferencing.

Regulatory Compliance and Allottee Replacement

The approval follows a recent correction in the allottee list. The Board had previously removed Mr. Saurabh Varma from the proposed allottees on August 28, 2026, after he failed to meet eligibility criteria under Regulation 159(1) of the SEBI ICDR Regulations, 2018. He had sold or transferred shares during the 90 trading days preceding August 3, 2026. Mr. Rakesh Amarlal Hinduja was appointed as his replacement for 26,666 equity shares in the non-promoter category.

Revised Allottee List

The total number of equity shares remains at 37,60,000. The final list of proposed allottees, now approved by shareholders, is detailed below:

Proceeds Utilization Plan

The company intends to utilize the raised funds by June 30, 2027. The allocation focuses on capacity expansion, research and development, and debt reduction. CARE Ratings Limited has been appointed as the Monitoring Agency to ensure compliance with SEBI ICDR Regulations until full utilization.

Actual utilization may deviate by +/- 10% based on market conditions. Any deviation will be used towards stated objects inter-se. Unutilized proceeds may be parked in bank deposits or debt mutual fund schemes.