Azad India Mobility Limited , a company listed on the Bombay Stock Exchange (BSE), has witnessed a significant change in its shareholding pattern. Rashmi Nimesh Joshi, along with persons acting in concert (PAC), have acquired a substantial stake in the company through a preferential allotment.

Key Details of the Acquisition

• Acquirers: Rashmi Nimesh Joshi, Dhruvil Nimesh Joshi, Nimesh S Joshi, and Manashavee Nimesh Joshi
• Acquisition Date: August 7, 2025
• Shares Acquired: 58,75,000 shares
• Stake Acquired: 14.51% of the company's voting capital
• Mode of Acquisition: Preferential allotment via conversion of warrants into equity shares

Impact on Shareholding

The acquisition has resulted in a significant increase in the group's total holding in Azad India Mobility Limited:

Changes in Company's Capital Structure

The preferential allotment has led to changes in Azad India Mobility's equity share capital:

• Pre-Acquisition: Rs. 40.49 crore (4,04,93,154 equity shares)
• Post-Acquisition: Rs. 49.30 crore (4,92,98,154 equity shares)
• Share Face Value: Rs. 10 each

Additional Information

• The acquired equity shares rank pari-passu with existing shares, including dividend rights.
• The acquirers do not belong to the promoter group of Azad India Mobility Limited.
• Rashmi Nimesh Joshi still holds 10,75,000 warrants (2.18% of the total voting rights) that can be converted into equity shares.

Funding and Utilization

According to the LODR data, Azad India Mobility Limited had previously raised Rs. 52.11 crore through a preferential issue on May 20, 2025. The funds were allocated for various purposes including capital expenditure, growth plans, working capital requirements, loan repayment, investments, and general corporate purposes.

This strategic move by Rashmi Nimesh Joshi and associates represents a significant shift in the ownership structure of Azad India Mobility Limited. While the acquirers are not part of the promoter group, their substantial stake could potentially influence the company's future direction and decision-making processes.

Azad India Mobility Limited (formerly known as Indian Bright Steel Co Limited) has announced a significant move in its expansion strategy by acquiring the remaining 29% stake in NAE Mobility Private Limited. This acquisition, completed on March 27, 2025, transforms NAE Mobility into a wholly-owned subsidiary of Azad India Mobility, marking a pivotal moment in the company's growth in the electric vehicle (EV) manufacturing sector.

Strategic Acquisition Details

The acquisition involves the purchase of 10,00,000 equity shares of NAE Mobility at ₹10.00 per share, amounting to a total investment of ₹1.00 crore. This transaction completes Azad India Mobility's ownership of NAE Mobility, following their previous stake acquisition announced on October 16, 2024.

Synergies and Strategic Benefits

NAE Mobility Private Limited, incorporated on August 29, 2022, specializes in manufacturing electric vehicles, including buses and three-wheelers. The company possesses an Original Equipment Manufacturer (OEM) license, which is crucial for EV production. By fully integrating NAE Mobility, Azad India Mobility aims to leverage this license to streamline its EV manufacturing processes, potentially saving significant time and costs in production.

Management Insights

Mr. Bupinder Singh Chadha, Managing Director, and Mr. Charnjit Singh Chadha, Director of Azad India Mobility, who are also promoters and directors in NAE Mobility, played key roles in facilitating this strategic move. The shared management between the two companies is expected to ensure a smooth integration and aligned business strategies.

Implications for Azad India Mobility

This acquisition is poised to strengthen Azad India Mobility's position in the rapidly growing electric vehicle market in India. By gaining full control over NAE Mobility's manufacturing capabilities and OEM license, the company is well-positioned to accelerate its EV production and potentially expand its product lineup.

Corporate Governance Update

In related news, Azad India Mobility has announced the closure of its trading window for designated persons and their immediate relatives from April 1, 2025, until 48 hours after the declaration of Audited Financial Results for the quarter and year ended March 31, 2025. This move is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ensuring transparency and fair trading practices.

Conclusion

The full acquisition of NAE Mobility represents a strategic step for Azad India Mobility in consolidating its position in the electric vehicle manufacturing space. As the EV market in India continues to grow, this move could potentially enhance the company's competitive edge and manufacturing capabilities in the sector.