Janus Corporation Ltd to acquire Forever Business Solutions Pvt Ltd through share swap

The Board of Directors of Janus Corporation Limited held on today i.e. Friday, 12th April, 2024, has considered and approved the Acquisition of 28,80,000 equity shares i.e. 100% equity shareholding of Forever Business Solutions Private Limited ("FBSPL") for a total purchase consideration of Rs. 13,82,40,000 /- (Rupees Thirteen Crores Eighty-Two Lakhs Forty Thousand Only) at a price of Rs. 48/- (Rupees Forty Eight Only) per equity share by issuance and allotment of up to 1,15,20,000 fully paid-up equity shares of the Company having face value of Rs. 10/- (Rupee Ten Only) each at a price of Rs. 12/- (Rupees Twelve Only) per equity share (including a premium of Rs. 2/- per share) determined in accordance with Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations"), for a consideration other than cash (share swap) (for discharge of entire purchase consideration) to the shareholders of ("FBSPL"). Pursuant to this acquisition ("FBSPL") will become the wholly owned subsidiary of Janus Corporation Limited.

Shares of Janus Corporation Ltd was last trading in BSE at Rs. 5.63 as compared to the previous close of Rs. 5.97. The total number of shares traded during the day was 70000 in over 20 trades.

The stock hit an intraday high of Rs. 6.48 and intraday low of 5.54. The net turnover during the day was Rs. 406140.00.

Source : Equity Bulls

Keywords

JanusCorporation INE04OV01018 Acquisition ForeverBusinessSolutions ShareSwap