26 July 2024
LN Industries India Limited acquired ACS Technologies Limited on March 24, 2023. As part of the transaction, LN Industries will issue its two shares in exchange for each share of ACS Technologies, totaling an issuance of 53,980,094 LN Industries shares. The merger will be implemented through a scheme of amalgamation. Pursuant to the transaction, ACS Technologies will merge with LN Industries. Intimation of the Arrangement project, part of the resolution plan as approved by the Hon'ble NCLT, Hyderabad bench.
Allotment of 2,69,71,294 (Two Crore Sixty Nine Lakhs Seventy One Thousand Two Hundred and Ninety-Four) Equity Shares to the Promoters of Transferor Company (i.e. ACS Technologies Limited before its merger into LN Industries India Limited) and 2,70,08,800 (Two Crore Seventy Lakhs Eight Thousand Eight Hundred) Equity Shares to the Public shareholders of the Transferor Company are pursuant to the allotment proposed in the Board meeting held on May 30, 2023.