Rose Merc Acquires 30.01% Stake in Virtual Gain Technologies

Rose Merc Limited has successfully acquired a 30.01% stake in Virtual Gain Technologies Private Limited, a fintech and technical service provider. This strategic acquisition, involving a cash consideration of up to ₹1,00,00,000 for 4,288 equity shares at ₹2,332 per share, marks Rose Merc's entry into the Indian fintech sector. Virtual Gain Technologies specializes in developing online market platforms for sales, purchases, digital payments, and e-wallet services. Following the acquisition, Rose Merc has appointed a majority of directors to Virtual Gain's board, making it a board-controlled subsidiary. The transaction was completed within the agreed timeframe and is not a related party transaction.