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Integra Switchgear increases authorized share capital and acquires 95% stake in Magnatech
31-Aug-2026, 08:51

Integra Switchgear Limited announced that its board approved a plan to increase its authorized share capital from Rs 40 crore divided into 40 lakh shares to Rs 225 crore divided into 22.5 million shares, and approved the preferential allotment of up to 26.67 lakh equity shares to independent director Mr. JrMichael Joseph Commiskey. The company also disclosed an acquisition of a 95% stake in Magnatech Co. Ltd., a South Korean battery and energy storage company, through a share swap involving the issuance of up to 19.91 crore equity shares to Magnatech’s shareholders. The Annual General Meeting is scheduled for September 30, 2026.