EFC (I) Ltd Approves Preferential Issue of 2 Cr Shares for Acquisition

EFC (I) Limited's Board of Directors has approved the issuance of up to 19,99,996 equity shares at Rs. 270 per share, totaling Rs. 53.99 crore. This preferential issue is for consideration other than cash, specifically for the acquisition of a 100% stake in Ultrafresh. The valuation reports from IBBI Registered Valuer and fairness opinion from Rarever Financial Advisors, along with an independent valuation by Deloitte, support the transaction. Shareholder and regulatory approvals are pending.