A-1 Ltd Embraces Clean Mobility: Major Shift in Strategy

A-1 Ltd announces a strategic pivot by diversifying into the electric vehicle industry. The company also approved a bonus share issue and a stock split to enhance liquidity. Expansion of subsidiary A-1 Sureja Industries into EV-related sectors is also planned, alongside increasing its authorised share capital.

A-1 Ltd, a leading chemical trading and logistics company, announced a strategic transition into the electric vehicle sector, marking a significant shift from its traditional chemical business. The company aims to tap into the burgeoning clean mobility market in India.

To boost liquidity and make its shares more affordable, the board has approved a bonus issue in a 3:1 ratio and a 10:1 stock split. The authorised share capital is also proposed to be increased from Rs 20 crore to Rs 46 crore, pending shareholder approval.

Additionally, A-1 Ltd plans to expand its subsidiary, A-1 Sureja Industries, into new EV-related verticals, focusing on R&D, battery technology, EV components, and smart charging infrastructure. This strategic move is set to position A-1 Ltd as a key player in the clean mobility sector.

(With inputs from agencies.)