Amalgamated Electricity Approves ₹650 Crore Preferential Issue At Par

Board approved preferential issue of up to 130cr shares at Rs5 aggregating Rs650 Cr to 6 non-promoters and expanded MoA objects into AI, IT, healthcare, EVs, media. Both require member nod via postal ballot e-voting ending Oct 31; fundraise at par is highly dilutive and object overhaul signals pivot from legacy electricity business. Allottee list, price disclosed but use of proceeds, valuation basis undisclosed; CFO Mangesh Shirodkar resigned, scrutineer appointed; no financial detail attached.