Integra Switchgear Board Approves Proposed 95% Magnatech Share-Swap Acquisition

Board approved increasing authorized share capital from Rs 4 Cr to Rs 225 Cr, subject to shareholder approval. It also approved preferential issuance of up to 26.7 lakh shares at Rs 15 per share to Independent Director Mr. JrMichael Joseph Commiskey, and up to 19.9 Cr shares at Rs 15 per share to acquire a 95% stake in South Korean company Magnatech Co. Ltd through a share swap. The acquisition and large share-swap issuance mark a sharp reversal from Integra's post-asset-sale shell and wind-down position toward a new operating business. The proposed transaction is subject to shareholder approval at the 30 September 2026 AGM, with target-company financial and business details to be provided separately. The proposed shares substantially exceed the existing 40 lakh authorized-share base, implying significant potential dilution. Target valuation, post-issue ownership, business performance, integration plan and promoter-transfer outcome remain undisclosed.