Oracle Credit Ltd makes further investment in Credent Asset Management Services Pvt Ltd

Oracle Credit Limited ("the Company") has made further investment in Credent Asset Management Services Private Limited (CAMS) by way of acquisition of 11,69,307 (Eleven Lakhs Sixty Nine Thousand Three hundred Seven) Equity Shares at a price of INR 48/- per share aggregating to an amount of INR 5,61,26,736/- (Rupees Five Crore Sixty One Lakhs Twenty Six Thousand Seven Hundred Thirty Six Only) from the existing Equity Shareholders of the CAMS, i.e., Mr. Aditya Vikram Kanoria, Mr. Mandeep Singh, Mr. Ashish Sarin and Mr. Santosh Kumar Agarwal on 03rd February, 2023.

Oracle Credit Limited has already up to 49% invested in Credent Asset Management Services Private Limited on 31st March, 2022 and 09th September, 2022.

Further, Company has invested remaining 51% in Credent Asset Management Services Pvt Ltd by way of acquisition of 11,69,307 equity Shares from the Existing Shareholders of the CAMS.

As on date, total investment of Oracle Credit Limited in Credent Asset management Services Private Limited is 100% and CAMS became the Wholly Owned Subsidiary of Oracle Credit Limited.

Shares of Oracle Credit Ltd was last trading in BSE at Rs. 126.90 as compared to the previous close of Rs. 129.40. The total number of shares traded during the day was 5770 in over 155 trades.

The stock hit an intraday high of Rs. 132.90 and intraday low of 122.95. The net turnover during the day was Rs. 730226.00.

Source : Equity Bulls

Keywords

OracleCredit INE727C01016 Investment CredentAssetManagementServices Subsidiary