In a strategic push toward green mobility, Remsons Industries Limited has acquired a 51.01% stake in Astro Motors Private Limited, transforming the electric vehicle (EV) maker into its subsidiary. This move marks Ramsons' entry into the rapidly expanding EV segment, setting the stage for future innovation and growth.

About Astro Motors Private Limited

Founded on February 7, 2020, Astro Motors Private Limited is headquartered in Mumbai and focuses on developing and manufacturing electric vehicles, including models for cargo, loaders, passenger transport, and micro-mobility.

• CIN: U34100MH2020PTC337395

• Authorized Share Capital: ₹50 lakh

• Paid-up Capital: ₹11.18 lakh

• Turnover:

  • FY 2023–24: ₹3.55 lakh

  • FY 2022–23: ₹19.51 lakh

  • FY 2021–22: Nil

Despite its modest financials, Astro Motors holds valuable IP and R&D in electric vehicle technology—making it an attractive acquisition target.

Deal Structure: Cash + Share Swap

Remsons Industries will acquire a total of 88,900 equity shares of Astro Motors for approximately ₹14.22 crore through a two-part transaction:

1. Subscription to New Shares

• Remsons will invest ₹10 crore in cash to subscribe to 62,500 fresh equity shares of Astro Motors at ₹1,600 per share.

2. Acquisition from Promoters

• Additionally, 26,400 shares will be acquired from Astro's current promoters.

• In exchange, Remsons will issue 3,19,994 of its own equity shares at ₹132 per share on a preferential basis.

After the transaction, Remsons will hold a 51.01% stake, making Astro Motors its subsidiary.

Strategic Rationale Behind the Deal

This acquisition is in line with Remsons Industries’ diversification strategy and desire to tap into the booming electric vehicle market.

Key Benefits:

• ✅ Market Entry: Immediate footprint in the EV manufacturing space

• ✅ Product Diversification: Leverage Astro's offerings in cargo, loader, and passenger EVs

• ✅ Tech Synergy: Collaborate on innovation in micro-mobility solutions

• ✅ Long-Term Growth: Ride the EV wave and participate in clean transport initiatives

No Regulatory Roadblocks

The deal does not require any government or regulatory approval, making the process faster. Completion is expected by June 30, 2025.

Consideration Summary

Final Thoughts

This acquisition positions Remsons Industries Limited at the heart of India’s electric vehicle evolution. By securing a controlling stake in Astro Motors, Ramsons can now actively participate in the fast-growing EV space, complementing its broader business strategy with a focus on clean energy and sustainable mobility.

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