Aion-Tech Solutions Limited is set to acquire approximately 54.34% of ETO Motors Private Limited through a share swap involving the preferential allotment of up to 1,76,79,770 equity shares.

The issue price per share is Rs. 110, bringing the total consideration to about Rs. 194.48 crore.

This strategic move aims to strengthen Aion-Tech's position in the electric mobility sector and aligns with its long-term plans for a comprehensive clean energy platform.

After the acquisition, Aion-Tech will hold around 58.51% of ETO Motors, enhancing shareholder value and operational synergies in a burgeoning market.