Autoline Industries announced warrants worth ₹225 million and share issuance at ₹75 each, alongside leadership changes. Shivaji Akhade becomes CEO, Venugopal Rao Pendyala takes over as Group CFO, while Uttam Kumar Biswas resigns. The moves aim to boost capital, strengthen governance, and drive growth in the auto components sector.
Autoline Industries Ltd, a Pune-based auto components manufacturer, has announced a series of significant corporate developments aimed at strengthening its financial and leadership framework.
Key highlights from the announcement:
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The company will issue warrants worth up to ₹225 million, signaling a push to raise capital for expansion and operational needs.
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Autoline also plans to issue millions of shares at ₹75 each, a move expected to bolster liquidity and investor participation.
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In leadership changes, Shivaji Akhade has been appointed as CEO, bringing renewed focus on strategic growth and operational efficiency.
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Venugopal Rao Pendyala has been named Group CFO, succeeding Uttam Kumar Biswas, who has stepped down from the role.
These changes reflect Autoline’s intent to align financial restructuring with leadership renewal, positioning the company to capture opportunities in India’s fast-evolving automotive sector.
Industry watchers note that the dual strategy of capital infusion and leadership reshuffle could help Autoline strengthen its balance sheet while driving innovation in auto components manufacturing.
Sources: Reuters, Moneycontrol, Economic Times, Business Standard