Extraordinary General Meeting of the Members of RRP S4E Innovation

20 May 2024

​A Notice is hereby given that the Extraordinary General Meeting of the Members of RRP S4E Innovation Private Limited will be held on May 29, 2024 (09:00 a.m.).

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To transact the Special business (ES) regarding the Preferential Issue of 70,00,000 Equity Shares by way of swap of shares (Consideration Other Than Cash) for an acquisition of a 100% stake of RRP Drones Innovation Private Limited (CIN: U26515MH2024PTC420271).

 
Objects of the Acquisition:

• The company was not able to reach remarkable business growth because of a proper business growth plan. The Board decided to take M/s. RRP Drones Innovation Private Limited whose business activities more or less similar to the existing business activities of the Company.
• Also, this proposed allotment will help the company to improve its debt-equity ratio and compliance with the Companies Act, 2013. By this conversion and issue of new shares, the wealth of the Shareholders and other stakeholders will increase.

The Board of Directors of the Company in their meeting held on 16-05-2024 approved the raising of funds aggregating up to Rs. 175,00,00,000/- (Rupees One Hundred Seventy-Five Crore only) by way of issuance of up to 70,00,000 equity shares of Rs. 10/ price of Rs. 250/-per Equity Share by way of swap of shares to the above said proposed allottees of the Company, by way of a preferential issue through private placement offer, that has agreed to subscribe to the proposed preferential issue.