Business Update19 Jun 2024, 01:31 pm
Plutus Investments to Acquire 26.00% Stake in Windsor Machines Ltd for Rs. 100/- per Share
AI Summary
Plutus Investments and Holding Private Limited (‘Acquirer’) has signed a Share Purchase Agreement on June 18, 2024, with Castle Equipment Private Limited, a promoter of Windsor Machines Ltd (‘Target Company’), to acquire its entire shareholding in the Target Company. This acquisition will make Plutus the promoter of Windsor Machines Ltd. In compliance with the Takeover Code, Plutus is making an open offer to acquire up to 1,68,82,268 Equity Shares, representing 26.00% of the fully diluted equity shares capital, at an offer price of Rs. 100/- per Equity Share.
Key Highlights
- Plutus Investments and Holding Private Limited to acquire 26.00% stake in Windsor Machines Ltd
- Acquisition through a Share Purchase Agreement with Castle Equipment Private Limited, a promoter of Windsor Machines Ltd
- Plutus Investments to become the promoter of Windsor Machines Ltd post acquisition
- Open offer to acquire up to 1,68,82,268 Equity Shares at an offer price of Rs. 100/- per Equity Share
- Compliance with the Securities and Exchange Board of India (Substantial acquisition of Shares and Takeovers) Regulations 2011, as amended”