Astral Limited to acquire additional stake in Seal IT Services Ltd, UK

The Board of Directors of Astral Limited in their meeting held today approved to purchase additional 15% equity shares of Seal IT Services Limited, UK (Subsidiary of the Company) from existing shareholder at a consideration of GBP 52,50,000/- (equivalent to approximately INR 48 Crores). The Company has also executed Share Purchase Agreement today for the said purchase of additional shares. With this acquisition, the total equity stake of the Company in Seal IT Services Limited, UK has increased from 80% to 95%.

As per the latest audited financial performance (consolidated) of Seal IT Services Limited for FY 2021-22 the Sales was GBP 32.66 million and EBIDTA was GBP 4.65 million.

Source : Equity Bulls

Keywords

Astral StakeAcquisition SealITServices UK Subsidiary