Omaxe Ltd acquires 14.27% in Inditrade Capital Ltd through invocation

Omaxe Ltd has acquired 33,33,400 equity shares having face value of Rs. 10 each of Inditrade Capital Limited held by Juno Moneta Technologies Private Limited (Pledgor), representing 14.27% of the paid-up equity share capital by way of invocation of pledge subsequent to default/breach of terms of Memorandum of Understanding (MOU) executed among the Company (Acquirer) Inditrade Capital Limited (Target Company) and Juno Moneta Technologies Private Limited (Pledger /Promoter of Target Company). The proceeds from sale of shares will be utilized to realize the dues in terms of aforementioned MOU.

The target Company is primarily engaged in the business of financial services, commodity broking, direct insurance agents, marketing support services, e-commerce in rural areas and dealing in commodities.

Source : Equity Bulls

Keywords

Omaxe INE800H01010 StakeAcquisition PledgeInvocation InditradeCapital