<h1>63 moons technologies approves preferential acquisition of equity in subsidiary Ticker Limited</h1>
63 moons technologies limited has approved a material related party transaction involving its wholly owned overseas subsidiary (WOS) regarding the acquisition of equity shares in Ticker Limited, a company subsidiary to the listed entity. The transaction involves Financial Technologies Singapore Pte. Ltd. (FTSPL), the WOS, acquiring 2,59,25,926 equity shares of Ticker Limited through a preferential issue.
The proposed acquisition is set to occur within three months and aims at deploying surplus treasury funds available with FTSPL.
Transaction Details and Financials
Under the transaction, FTSPL will purchase the specified number of equity shares at an issue price of Rs. 27/- each, where the face value of the shares is Re. 1/-. The total cost of acquisition amounts to about Rs. 70 Crores, subject to shareholders' approval.The move significantly increases FTSPL's stake in Ticker Limited. Currently, FTSPL holds a 0.45% shareholding in Ticker. Following the proposed acquisition, FTSPL will acquire an additional shares, elevating its total holding to 1.45%. The transaction is expected to result in no change in control over Ticker Limited.
Target Company Profile and Financials
Ticker Limited, which is an unlisted public company incorporated in India, is described as a subsidiary of 63 moons technologies limited and operates within the Technology industry. As on March 31, the company holds Authorized Capital of Rs. 4,00,00,00,000/- and Paid up Capital of Rs. 1,74,96,63,095/-.The acquisition involves FTSPL acquiring the equity shares as a material related party transaction, which will be conducted on an arm's length basis. The background details for Ticker Limited include turnover figures from its recent financial years:
| Financial Year | Turnover (Rs in Lakhs) |
|---|---|
| 2025-26 | 27.00 |
| 2024-25 | 67.99 |
Ticker Limited is incorporated as an Information Technology enabled eco-system and services company, and it has maintained a presence in India.
63MOONS Stock Price Movement
Today, shares of 63 moons technologies limited edged higher to close at ₹734.90, logging a gain of 0.88%. The stock traded within an intraday range defined by a low of ₹722.10 and a high of ₹742.90, with 183,450 shares recorded in the market session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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