At meeting held on 10 April 2025
The Board of Avalon Technologies at its meeting held today, i.e., 10 April 2025, has considered and approved the proposal to invest in Zepco Technologies (Zepco), subject to compliance with the applicable laws, statutory approvals, consents and permissions as may be required.
Zepco is engaged in the business of design, development, manufacturing, and marketing of motors, motor drives and controllers, power solutions, for various industries including drones, electric vehicles and defence.
Avalon and Zepco propose a collaboration that includes a financial investment by Avalon and a business partnership to utilize Zepco's technology and design expertise. The collaboration will combine Avalon's experience with Zepco's capabilities to explore new opportunities, develop manufacturing capabilities, and build customer relationships.
Avalon is proposing to invest in Zepco by subscribing to Equity Shares and Compulsorily Convertible Preference Shares (CCPS) at a price of Rs 306.55 per security, inclusive of premium, with a face value of Rs 10.
Post investment, Avalon shall hold 4.05% of the fully diluted paid up capital of Zepco.
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