63 Moons Subsidiary to Acquire Ticker Ltd Shares for ₹70 Cr
63 Moons Technologies Ltd announced that its wholly-owned overseas subsidiary, Financial Technologies Singapore Pte. Ltd. (FTSPL), will acquire 2,59,25,926 equity shares of its subsidiary, Ticker Ltd., for approximately ₹70 Crores. The acquisition will be through a preferential issue at an issue price of ₹27 per share. This transaction is classified as a material related party transaction and is subject to shareholder approval. The funds for this acquisition will be deployed from FTSPL's surplus treasury funds. The acquisition is expected to be completed within three months, subject to necessary approvals. FTSPL currently holds a 0.45% stake in Ticker Ltd. and will increase its shareholding by an additional 1.45% post-acquisition, without any change in control.
Key Highlights
- FTSPL to acquire Ticker Ltd. shares for ₹70 Crores via preferential issue.
- Transaction is a material related party deal, pending shareholder approval.
- Acquisition aims to deploy surplus treasury funds of FTSPL.
- No change in control expected; FTSPL's stake to increase by 1.45%.
- Deal expected to conclude within three months, subject to approvals.
Price Impact
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