63 Moons Technologies Ltd. Announces Sale of ODIN Business Undertaking to Synapsewave Innovations Private Ltd.

63 Moons Technologies Ltd. has initiated the sale of its Open Dealer Integrated Network (ODIN) Business Undertaking to Synapsewave Innovations Private Ltd. on a slump sale basis, debt free and cash free. The sale is subject to compliance of closing conditions, approval of shareholders by special resolution, and necessary approvals from regulatory authorities. The ODIN Business Undertaking contributed 15.27% of the consolidated revenue of the Company for FY 2023-24. The consideration for the sale is Rs. 98 crores, to be received on closing of the transaction after CP satisfaction. The transaction is not a related party transaction and is not pursuant to amalgamation/merger.