Identixweb Ltd Acquires 20.04% Stake in Munim ERP for ₹1223.48 Lakh

Identixweb Ltd announced its Board of Directors has approved the acquisition of an additional 20.04% equity stake in its subsidiary, Munim ERP Private Limited (MEPL). The acquisition involves 6,693 equity shares for a total consideration of ₹1,223.48 Lakh. This transaction will increase Identixweb's shareholding in MEPL to 70.05%. The acquisition aims to rationalize MEPL's debt structure. MEPL specializes in accounting and GST compliance software, including ERP solutions. The deal is considered a related party transaction due to common directorships among promoters, but it is being conducted on an arm's length basis based on a registered valuer's report. The acquisition is expected to be completed within 30 days, with consideration being a conversion of inter-corporate loan.