Integra Switchgear

Integra Switchgear's board approved the proposed acquisition of 95% of South Korean battery and lighting company Magnatech Co. through a share swap valued at up to ₹298.67 crore, subject to shareholder and regulatory approvals. The company would issue up to 19.91 crore shares at ₹15 each to Magnatech's shareholders, receiving 1.6593 crore Magnatech shares. Magnatech manufactures rechargeable batteries using NMC and LFP chemistries, as well as battery packs, energy-storage systems and LED lighting, and reported 2025 turnover of ₹44.65 crore. Integra also approved a separate preferential issue of up to 26.67 lakh shares at ₹15 each to independent director JrMichael Joseph Commiskey for ₹4 crore, and proposed increasing its authorised share capital from ₹4 crore to ₹225 crore. The company had sold all its operating assets in FY23, leaving land valued at ₹25.4 lakh as its fixed-asset base in its FY24 annual report.

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Integra Switchgear's board approved, subject to shareholder approval, the proposed acquisition of 95% of South Korean company Magnatech Co. Ltd. through a share swap. The consideration comprised up to 199.116 million Integra shares issued at ₹15 each, or about ₹298.7 crore on the stated issue price. The board also approved a preferential issue of up to 2.667 million shares at ₹15 each to Mr. JrMichael Joseph Commiskey, an independent director, and an increase in authorised share capital to ₹225 crore from ₹4 crore. Integra had sold its operating assets in FY23, leaving land valued at ₹25.4 lakh as its only fixed asset in its FY24 annual report. Shareholders were due to consider the proposals at an AGM scheduled for 30 September 2026.

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Aug 31 (Reuters) - Integra Switchgear Ltd INTS.BO:

• INTEGRA SWITCHGEAR - APPROVES ACQUISITION OF 95% STAKE IN MAGNATECH VIA SHARE SWAP

• INTEGRA SWITCHGEAR - SHARE SWAP RATIO SET AT 1:12 FOR MAGNATECH STAKE BUY

• INTEGRA SWITCHGEAR LTD - TOTAL CONSIDERATION SHALL BE 2.99 BILLION RUPEES

Source text: ID:nBSE3bl5l3

Further company coverage: INTS.BO

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Integra Switchgear scheduled a board meeting for 31 August 2026 to consider increasing its authorised share capital and evaluating a preferential issue of equity shares on a private-placement basis. The proposed fund raising was subject to statutory, regulatory and shareholder approvals, and no issue size or prospective investor was specified. The company had sold its building, plant and machinery, furniture, office equipment and computers in FY23, leaving land valued at ₹25.4 lakh as its fixed-asset base. Its FY24 annual report recorded that transfers of shares by outgoing promoters remained in process under FC-TRS requirements.

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