TL;DR
Prabhhans Industries is set to acquire EV battery and component manufacturer Mtow Mobility in a $4.53 million all-share transaction, marking a strategic entry into clean mobility.
Prabhhans Industries Limited has announced its approval for the 100% acquisition of clean-mobility firm Mtow Mobility. The transaction, valued at approximately US$4.53 million, will be executed through an all-share deal rather than a cash payment. This strategic move was cleared by Prabhhans' board on September 30, 2026, in Ludhiana, Punjab.
Mtow Mobility, established in November 2023, specializes in the manufacturing and trading of batteries, electric vehicles, and automotive components. The acquisition aims to pivot Prabhhans Industries into the clean mobility sector, expanding its business beyond its existing operations. Mtow has demonstrated rapid growth, with its revenue significantly increasing from US$41.5K in FY2023-24 to US$5.22M in FY2025-26, underpinning the valuation for the share swap.
To facilitate the share swap and fund its expanded ventures, Prabhhans will increase its authorized share capital and plans to issue new shares on a preferential basis. The completion of this acquisition, alongside another for a consumer-electronics refurbishment firm, is targeted within 30 days, subject to stock exchange approvals.
