Deals10 April 2026 at 01:31 pm
Rose Merc invests ₹1 Cr in fintech, divests two associate stakes
AI Summary
Rose Merc Ltd's Board approved a strategic investment of ₹1 crore in Virtual Gain Technologies Private Limited, acquiring a 30.01% equity stake. This move aims to facilitate Rose Merc's entry into India's fintech sector, leveraging Virtual Gain's online market platform for digital assets and payments. Concurrently, the company decided to divest its 49% equity stake in Kaale and Rose Merc Advisors Private Limited and its 50% equity stake in Parshuram Creative Craft Private Limited, ceasing their associate company status. Additionally, ₹56.25 lakh was forfeited from lapsed warrants due to non-conversion.
Key Highlights
- Rose Merc invests ₹1 crore for 30.01% stake in fintech firm Virtual Gain.
- Strategic investment aims to establish Rose Merc's presence in the fintech sector.
- Company divests 49% stake in Kaale & Rose Merc Advisors, 50% in Parshuram Creative Craft.
- Divestments result in cessation of associate company status for both entities.
- ₹56.25 lakh forfeited from lapsed warrants due to non-exercise of conversion option.
ROSEMERTrading & Distributors
ROSE MERC.LTD.Price Impact