In this regard, CUMI has today entered into a Shareholders Subscription Agreement with PLUSS and its existing promoters as well as Share Purchase Agreements with its existing shareholders including Tata Capital Innovations Fund, a Venture Capital Fund of Tata Capital, a financial investor in the Company envisaging an acquisition of stake as below:
- Share Purchase Agreements to acquire equity shares equivalent to 67.94% of the issued and paid-up equity share capital of PLUSS by October 31, 2021 or such other date as may be mutually agreed by the parties.
- Shareholders' Agreement to regulate the rights & obligations of the shareholders inter-se and for the internal management of PLUSS. The said Shareholders' Agreement, interalia, envisages subscription to the equity shares equivalent to 12.53% of an enhanced issued and paid-up share capital of PLUSS by October 31, 2021. Consequently, CUMI will acquire stake aggregating to about 72% in the enhanced share capital of PLUSS.