Finelistings Technologies Ltd Enters Business Collaboration Agreement with Hanura Tradex
Finelistings Technologies Limited has formalized a Business Collaboration Agreement with Hanura Tradex, a sole proprietorship firm specializing in the retail of used premium and high-end luxury cars. The collaboration aims to expand the Company's business operations and establish strategic synergies within the luxury automobile segment.The agreement's purpose is to facilitate the capture of prospective growth opportunities in the used premium and high-end luxury car retail sector through collaboration between the two entities.
The key details of the business arrangement are summarized below.
| Particulars | Details |
|---|---|
| Name(s) of parties with whom the agreement is entered | Hanura Tradex a sole proprietorship of Mr. Prince Bharana |
| Purpose of entering into the agreement | To expand business operations and create strategic synergies between the parties, with a view to capturing prospective growth opportunities in the retail segment of used premium and high-end luxury cars. |
| Shareholding, if any, in entity with whom agreement is executed | Not Applicable |
| Significant terms of the agreement (in brief) | The Agreement outlines the framework for business collaboration between the parties for mutual growth and expansion in the segment of used premium and high-end luxury cars. It includes provisions relating to roles and responsibilities of each party, operational coordination, sharing of business opportunities, and revenue/commercial arrangements, as may be mutually agreed. The Net Profit from each Vehicle shall be shared as follows: Hanura Tradex: 70%, Finelistings Technologies Limited: 30% |
| Whether the said parties are related to promoters/ promoter Group/ group companies in any manner | No |
| Whether the transactions would fall within related party transactions? | Not Applicable |
The collaboration agreement focuses on guiding the operational framework for mutual expansion in the used premium and high-end luxury car market. The revenue structure for net profit from each vehicle is clearly defined, with Hanura Tradex receiving 70% and Finelistings Technologies Limited receiving 30%.
Stock Price Movement
Finelistings Technologies Ltd settled at ₹11.39 on Tuesday, ticking up 4.98% in after-hours trading. Shares fluctuated throughout the day, contained within a range starting from a low of ₹11.33 up to a high of ₹11.39.Source:
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