Sharp Investments to acquire 100% of Rajal Lefin via share swap

Sharp Investments Limited announced a preferential issue for the acquisition of 100% equity share capital of Rajal Lefin & Commercial Private Limited (RLCPL). The company plans to acquire 45,85,860 equity shares of RLCPL through a share swap, a consideration other than cash. This acquisition is the sole object of the preferential issue, retracting any prior mention of general corporate purposes like funding business growth or capital expenditure. The preferential issue involves up to 27,51,51,600 equity shares of Rs. 1 each, on a preferential basis to non-promoters.