Acquisitions29 May 2025, 06:42 pm
Qualitek Labs to Acquire 100% Stake in Interstellar Testing Centre Private Limited via Share Swap
AI Summary
Qualitek Labs Ltd. has announced that its Board of Directors has approved the acquisition of the remaining 2,54,959 equity shares of Interstellar Testing Centre Private Limited (ITCPL) through a share swap arrangement. This strategic acquisition, which was initially approved by the Board in July 2024, will be completed with the issuance of 16,72,531 equity shares of Qualitek Labs Limited for every 1 equity share of ITCPL, thereby acquiring 100% equity shareholding of ITCPL.
Key Highlights
- The acquisition will be completed through a share swap arrangement.
- The swap ratio is 6.56:1, with Qualitek issuing 16,72,531 shares for every 2,54,959 shares of ITCPL.
- The transaction is based on a valuation and fairness report provided by an independent registered valuer.
- The acquisition is subject to approval of shareholders and other applicable regulatory compliances.
- ITCPL is a testing and assurance services company incorporated in 2016, with a turnover of INR 40,58,16,000 in FY 2024-25.