Identixweb Acquires 20.04% Stake in Subsidiary Munim ERP for ₹1223.48 Lakh
Identixweb Ltd has approved the acquisition of an additional 20.04% equity stake in its subsidiary, Munim ERP Private Limited (MEPL), for a total consideration of ₹1,223.48 Lakh. The acquisition involves 6,693 equity shares and will increase Identixweb's shareholding in MEPL to 70.05%. The transaction is structured as a conversion of an inter-corporate loan and is expected to be completed within 30 days. MEPL specializes in accounting and GST compliance software, focusing on ERP solutions. The acquisition aims to rationalize the subsidiary's debt structure and increase Identixweb's stake. Notably, the transaction involves related parties as key promoters are also directors in MEPL, but it is being conducted on an arm's length basis.
Key Highlights
- Identixweb increases stake in Munim ERP by 20.04% to 70.05%.
- Acquisition cost is ₹1,223.48 Lakh, settled via inter-corporate loan conversion.
- Transaction aims to rationalize subsidiary's debt and increase ownership.
- Related party transaction, but conducted on an arm's length basis.
- MEPL is a subsidiary focused on accounting and ERP software solutions.
Price Impact
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