Le Merite Exports Limited Acquires 14.5% Equity Stake in Subsidiary LMTDSPL
Le Merite Exports Limited has completed the acquisition of an additional equity stake in its subsidiary, Le Merite Tactical & Defence Solutions Private Limited (LMTDSPL). The company acquired a 14.5% shareholding from Mr. Nand Nandan Sureka, a shareholder and promoter of LMTDSPL.The transaction was conducted at arm's length and involved a cash consideration amount not exceeding Rs. 1,45,000. This acquisition includes 14,500 equity shares of the subsidiary.
LMTDSPL operates in the Technical Textile industry. The acquiring company noted that LMTDSPL is an existing subsidiary, and this purchase involves obtaining additional equity.
Key details regarding the acquired entity and the transaction are presented below:
| Detail | Information |
|---|---|
| Target Entity Name | Le Merite Tactical & Defence Solutions Private Limited (LMTDSPL) |
| Industry | Technical Textile |
| Incorporation Date | 05/06/2025 |
| Acquired Stake | 14.5% (14,500 equity shares) |
| Seller | Mr. Nand Nandan Sureka |
| Consideration Type | Cash consideration |
| Total Cost of Acquisition | Rs. 1,45,000 (at Rs. 10/- per share) |
The details provided confirmed that the acquisition aligns with the company's operational structure as LMTDSPL is already a subsidiary of Le Merite Exports Limited. The transaction was noted to be conducted on an arm's length basis.
Le Merite Exports Limited indicated that the indicative time period for the completion of the acquisition is within 60 days.
LEMERITE Stock Price Movement
Le Merite Exports Limited shed value today, as shares slipped by 4.97% to settle at ₹26.38 in post-market trading. The stock saw a traded volume of 566,751 shares and hit an intraday low corresponding to its closing price of ₹26.38.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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