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.

Ace Men Engg Works Limited has announced a crucial Board of Directors meeting scheduled for August 14, 2025, with a packed agenda that could significantly impact the company's future direction. The meeting will address several key matters, including financial results and proposals requiring shareholder approval.

Quarterly Financial Results

The board will review and potentially approve the unaudited financial results for the quarter ended June 30, 2025. This review will provide insights into the company's performance for the first quarter of the fiscal year 2025-2026.

Proposed Capital Structure Changes

One of the major items on the agenda is a substantial increase in the company's authorized share capital. Ace Men Engg Works is considering raising its authorized share capital to Rs. 14.00 crores, which represents an addition of Rs. 10.50 crores to the existing capital. This move could potentially pave the way for future fundraising activities or stock issuances.

Expansion of Financial Limits

The board will deliberate on several proposals to expand the company's financial capabilities:

1. Increasing the investment, loan, guarantee, and advance limits to Rs. 500.00 crores.
2. Raising the borrowing power limits to Rs. 500.00 crores.
3. Setting related party transaction limits at Rs. 500.00 crores.

These proposed changes suggest that Ace Men Engg Works may be positioning itself for significant growth or expansion opportunities.

Strategic Acquisition

A highlight of the meeting will be the consideration of a major acquisition. The board will discuss the proposed acquisition of 100% equity shareholding (9,81,600 shares) of Manibhadra Industries Private Limited. This acquisition is planned to be executed through a share swap arrangement, with the consideration to be determined based on an assessment by a registered valuer.

Trading Window Closure

In line with regulatory requirements, the company has announced that the trading window for designated persons will remain closed until 48 hours after the announcement of the board meeting outcome. This measure is designed to prevent insider trading and ensure fair market practices.

The outcome of this board meeting could have far-reaching implications for Ace Men Engg Works Limited, potentially reshaping its capital structure, financial capabilities, and market position. Shareholders and market observers will be keenly awaiting the results of these deliberations, which could signal the company's strategic direction in the coming years.