IB Infotech Enterprises Limited has agreed to subscribe to 2,02,500 equity shares at a price of Rs10 /- per equity share which will be constituting to 81% of the total equity Share capital of Pearl Leisure Private Limited, said company in a filing on Monday.
The Equity Shares will be acquired at a price of Rs. 10/- per equity share aggregating to Rs20,25,000/-.
Further, Pearl Leisure Private Ltd, a private limited company having a paid up caital of Rs4,75,000 and turn over for the period ended December 31, 2021 is appx Rs131.50 lakh.
On acquisition, the company said, "IB Infotech Enterprises Limited will manage the business of the acquired entity by providing their expertise and may earn the management fees subject to necessary approvals."
On Tuesday at around 11:56 AM, IB Infotech Enterprises was trading at Rs18.85 apiece down by Rs0.95 or 4.8% on Sensex.
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