Business Update10 Feb 2024, 11:38 pm
Digispice Technologies Ltd. Amends Terms of Investment in Subsidiary Spice Money Limited
AI Summary
Digispice Technologies Ltd. has amended the terms of its investment in Spice Money Limited, a material subsidiary, to convert cumulative compulsory convertible preference shares into non-convertible redeemable preference shares. The company has received intimation of the amendment on February 10, 2024.,
Key Highlights
- Amendment to investment terms in subsidiary Spice Money Limited
- Conversion of cumulative compulsory convertible preference shares into non-convertible redeemable preference shares
- Reduction of net worth requirement by RBI
- No benefit to promoter/promoter group/group companies from restructuring