Qualitek Labs to Acquire 100% Stake in Interstellar Testing Centre through Share Swap

Qualitek Labs Ltd is set to acquire the remaining 50.01% stake in Interstellar Testing Centre Private Limited (ITCPL) through a share swap arrangement. This will make ITCPL a wholly owned subsidiary of Qualitek Labs. The share swap involves 2,54,959 equity shares of ITCPL, with a face value of #10 and a premium of #300.89, determined in accordance with applicable laws and supported by a valuation report. The proposed allotment is to be made to the shareholders of ITCPL pursuant to this share swap arrangement. Qualitek Labs already holds 49.99% of ITCPL. Post-acquisition, it will hold 100% equity of ITCPL. The shareholding of ITCPL as on date is as follows: Qualitek Labs Limited (QLL) holds 49.99%, TIC Services Private Limited (TIC) holds 35.01%, and Mr. Sanjiv Khullar holds 15.00%. The natural persons exercising control through ownership (more than 25% of shares or capital) in TIC Services Private Limited are Mr. Alok Kumar Agarwal and Mr. Antaryami Nayak.