Identixweb Acquires Additional Equity in Subsidiary Munim ERP, Boosts Stake to 70.05%
Identixweb Ltd has announced the acquisition of an additional equity stake in its subsidiary, Munim ERP Private Limited (MEPL). This transaction involves acquiring 6,693 equity shares of MEPL for a total consideration of Rupees 1,223.48 Lakh. With this move, Identixweb will hold 70.05% of the shareholding in MEPL following the acquisition.The strategic objectives behind the purchase include rationalizing the Debt structure of the subsidiary and consolidating control by acquiring additional equity stakes in the business unit. The acquisition is currently underway with an indicative timeframe for completion set within 30 days.
Munim ERP Private Limited (MEPL) operates as a specialized entity, focusing on accounting and GST compliance software, particularly providing Enterprise Resource Planning (ERP) solutions across various industries. MEPL was incorporated under the Companies Act, 2013, in June 2022.
The transaction involves the conversion of an Inter Corporate Loan into equity. The acquired shares correspond to a cost of Rupees 10/- each, bringing the total consideration for the 6,693 shares to Rupees 1,223.48 Lakh.
Details regarding MEPL and the acquisition are provided below:
| Financial and Business Details | Description |
|---|---|
| Target Entity Name | Munim ERP Private Limited (MEPL) |
| Primary Industry | Accounting and GST compliance software/ERP solutions |
| Incorporation Date | 08/06/2022 |
| Authorized Capital | Rupees 1,00,000/- (10,000 Equity Shares of Rupees 10/- each) |
| FY 2025-26 Turnover | Rupees 196.06 Lakhs |
| FY 2025-26 Net Worth | Negative Rs. 310.19 Lakhs |
The acquisition constitutes a related party transaction, as MEPL is a subsidiary of Identixweb Limited. Promoters of the Company hold directorial positions in MEPL, ensuring that the transaction adheres to arm's length principles based on a Valuation Report by a Registered Valuer.
Stock Price Movement
Identixweb Ltd is ticking up by 1.36% as of 14:44, with shares currently trading at ₹67.00.The stock is completely locked in place today, as the intraday high and low are identical at the ₹67.00 level.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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