Krishna Defence And Allied Industries Signs Agreement for Acquisition Stake in Taharabadkar Solutions
Krishna Defence and Allied Industries Limited (KDAIL) has executed a Shareholders Agreement with Taharabadkar Solutions Pvt Ltd (TSPL), securing a stake of 46.81% in the other entity. The agreement defines the terms and conditions for the acquisition.The Shareholders Agreement establishes several significant rights and commitments for KDAIL within the operational structure of TSPL. Key provisions include granting KDAIL the right to appoint one director to the Board of TSPL. Furthermore, KDAIL will receive both ROFR (Right of First Refusal) and Drag Along rights under the agreement.
The transaction is not classified as a related party transaction, and the parties involved are not related to the promoter or promoter group.
The agreement also details a specific share issuance component. TSPL will issue 8,800 equity shares to KDAIL. These shares are being issued for Rs. 4546 per share, based on a valuation report.
The core financial details of the transaction are summarized below:
| Detail | Entity | Amount / Value |
|---|---|---|
| Stake Acquired | TSPL | 46.81% |
| Shares Issued to KDAIL | TSPL | 8,800 equity shares |
| Issue Price Per Share | KDAIL | Rs. 4546 |
| Board Representation | KDAIL | One Director |
| Rights Granted | KDAIL | ROFR & Drag Along rights |
KRISHNADEF Stock Price Movement
Krishna Defence And Allied Industries Limited shares today slipped 8.75% to settle at ₹1154. The stock saw significant action today, trading between a day low of ₹1132.5 and a high of ₹1299, with a robust volume of 233,327 shares traded.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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