Rashmi Nimesh Joshi and Associates Acquire 14.51% Stake in Azad India Mobility Through Warrant Conversion
Rashmi Nimesh Joshi, along with persons acting in concert, acquired a 14.51% stake in Azad India Mobility Limited through a preferential allotment on August 7, 2025. The group acquired 58,75,000 shares, increasing their total holding from 6.08% to 17.59%. The acquisition was made via conversion of warrants into equity shares, resulting in changes to the company's capital structure. The company's equity share capital increased from Rs. 40.49 crore to Rs. 49.30 crore. Rashmi Nimesh Joshi still holds 10,75,000 warrants that can be converted into equity shares.
28Mar 25
Azad India Mobility Acquires Full Ownership of NAE Mobility, Strengthening Electric Vehicle Manufacturing Capabilities
Azad India Mobility Limited has acquired the remaining 29% stake in NAE Mobility Private Limited for ₹1.00 crore, making it a wholly-owned subsidiary. The acquisition, completed on March 27, 2025, involves 10,00,000 equity shares at ₹10.00 per share. NAE Mobility, incorporated in 2022, specializes in manufacturing electric vehicles and holds an OEM license. This strategic move aims to streamline Azad India Mobility's EV production processes and strengthen its position in the growing Indian EV market. Additionally, the company has announced the closure of its trading window for designated persons from April 1, 2025, until 48 hours after the declaration of FY2025 financial results.
17Mar 25
Azad India Mobility Surges 5% as 3 Sigma Global Fund Boosts Stake
Azad India Mobility Limited's shares hit the upper circuit, rising 5% to ₹112.35 following a significant stake acquisition by Mauritius-based 3 Sigma Global Fund. The FII purchased a 2.20% voting stake, acquiring 7,51,200 equity shares through warrant conversion. This increased 3 Sigma's total holding to 21.99% of the company. The transaction resulted in an increase in Azad India Mobility's equity share capital from ₹32,75,88,750 to ₹34,11,00,750.