DRC Systems to Acquire 49% Stake in Skizzle Technolabs for ₹2 Cr
DRC Systems India Ltd announced a shift in its investment strategy for Skizzle Technolabs India Private Limited. Instead of a fresh investment, the company's Board of Directors has approved the acquisition of a 49.00% stake in Skizzle from its existing shareholders for an aggregate consideration not exceeding ₹2,00,00,000 (₹2 Crores). This acquisition will make Skizzle an Associate Company. The transaction is expected to be completed by March 31, 2027, subject to due diligence and approvals. In a separate move, DRC Systems will divest its entire 49.18% stake in its Associate, Inexture Solutions Limited, for a consideration not exceeding ₹1.02 Crores. The buyers of the Inexture stake are individuals and not related to the promoter group.
Key Highlights
- DRC Systems will acquire 49% stake in Skizzle Technolabs for up to ₹2 Crores.
- Skizzle Technolabs will become an Associate Company post-acquisition.
- The company will divest its entire 49.18% stake in Inexture Solutions Limited.
- The divestment of Inexture Solutions is for a consideration not exceeding ₹1.02 Crores.
- Acquisition of Skizzle is a change from the previously proposed fresh investment.
Price Impact
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