IIRM Holdings India Ltd acquires Sampada Business Solutions Ltd

IIRM Holdings India Limited (formerly known as Sudev Industries Limited) had earlier announced regarding acquisition of 99.93% stake in Sampada Business Solutions Limited (SBSL) through a share swap (for consideration other than Cash) by way of Preferential Issue of upto 5,97,17,650 fully Paid-up Equity Shares of the Company of Face Value of Rupees 5.00 each as per the swap Ratio (i.e 1:1.64) to discharge the total purchase consideration payable for the acquisition of equity stake in SBSL.

The Company has on January 18, 2024 completed the allotment of 5,97,17,650 fully Paid-up Equity Shares of the Company of Face Value of Rupees 5.00 each in lieu of 3,64,13,221 equity shares of Face Value of ₹. 5.00 each as fully paid up held in Sampada Business Solutions Limited ("SBSL") by its Shareholders i.e., Allotment of 164 Equity Shares of face value of Rupees 5.00 each of the Company for every hundred equity shares of the Face Value of Rupees 5.00 each held in SBSL by its Shareholders.

Consequent to the above, Sampada Business Solutions Limited has become a Subsidiary of the Company.

Source : Equity Bulls

Keywords

IIRMHoldingsIndia SharesAllotment Acquisition SampadaBusinessSolutions