Aanchal Ispat Limited (BSE:538812) agreed to acquire 36.80% stake in Penguin Creation Private Limited on October 28, 2022. The transaction has been approved by Board of Directors of Aanchal Ispat Limited. As of December 15, 2022. the company subjg| to the approval of shareholders in the ensuing Extra-ordinary General Meeting to be held on January 11, 2023. Aanchal Ispat Limited (BSE:538812) is undertaking the Preferential Issue as part of the Proposed Transaction whereby Equity Shares equivalent to 14,33, 650 are proposed to be issued and allotted for consideration other than cash i.e., for acquisition of 36.80 % equity shares of Penguin Creation Private Limited.