Ace Men Engg Works Limited has successfully completed a strategic acquisition of Manibhadra Industries Private Limited (MIPL) in a share swap deal valued at Rs. 62.82 crore. This move marks a significant step in Ace Men's business expansion and diversification strategy.

Key Details of the Acquisition

Strategic Implications

The acquisition of MIPL, a manufacturer specializing in indoor and outdoor lighting, wires, cables, poles, high masts, and fans, is expected to:

1. Diversify Ace Men Engg Works' business operations
2. Enhance the company's market position
3. Create new synergies for growth and value creation

Transaction Details

As per the LODR (Listing Obligations and Disclosure Requirements) data:

• The Board of Directors approved the allotment of 98,16,000 equity shares with a face value of Rs. 10.00 each.
• The shares were issued at a premium of Rs. 54.00 per share, making the total issue price Rs. 64.00 per share.
• The allotment was made to 34 non-promoter allottees in exchange for 9,81,600 equity shares of MIPL.
• MIPL shares were valued at Rs. 640.00 per share for this transaction.

Impact on Corporate Structure

Following this acquisition, Manibhadra Industries Private Limited has become a wholly-owned subsidiary of Ace Men Engg Works Limited. This structural change is expected to streamline operations and potentially lead to improved efficiencies across the combined entity.

Future Outlook

The management of Ace Men Engg Works views this acquisition as a strategic initiative with good potential. The company anticipates that integrating MIPL's operations will contribute significantly to its bottom line and unlock shareholder value in the coming years.

While the immediate focus will likely be on integrating MIPL's operations, investors and market watchers will be keen to observe how Ace Men Engg Works leverages this acquisition to drive growth and expand its market presence in the lighting and electrical equipment sector.

Ace Men Engg Works Limited has issued a corrigendum to its Extraordinary General Meeting (EGM) notice, addressing typographical errors and providing additional details about a proposed share allotment. The company's Board of Directors approved these corrections in a meeting held on September 11, 2025.

Key Points of the Corrigendum

• Share Allotment Details: The company plans to issue 98,16,000 equity shares at Rs. 64.00 per share through preferential allotment to 34 non-promoter allottees.
• Acquisition Target: The share issuance is for acquiring a 100% stake in Manibhadra Industries Private Limited (MIPL).
• Transaction Value: The share swap transaction is valued at Rs. 62,82,24,000.00, with MIPL shares priced at Rs. 640.00 each.
• Shareholding Impact: Post-allotment, promoter holding will decrease from 2.55% to 0.61%, while the total share count will increase from 30,98,500 to 1,29,14,500 shares.

About Manibhadra Industries Private Limited

Manibhadra Industries Private Limited, the acquisition target, operates in the following sectors:

• Indoor and outdoor lighting
• Wires and cables
• Poles and high masts
• Fans

Rationale for Acquisition

The company stated that this acquisition aligns with its growth strategy and is expected to:

• Expand business operations
• Enhance market position
• Diversify existing business without impacting cash reserves
• Optimize the use of available resources
• Unlock shareholder value

EGM Details

Additional Information

• The allotment must be completed within 15 days of approval.
• The equity shares will be subject to a lock-in period as specified under SEBI ICDR Regulations.
• The company has obtained necessary certifications from a Practicing Company Secretary regarding compliance with SEBI ICDR Regulations.

Ace Men Engg Works Limited's management believes that this strategic move will contribute significantly to the company's growth and create value for its stakeholders. Shareholders will vote on this proposal at the upcoming EGM.