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Rattanlndia Enterprises acquires 100% stake in Cocoblu Retail

The cost of acquisition is Rs1 lakh for 10,000 equity shares at Rs10/- each.

November 04, 2021 7:08 IST | India Infoline News Service
Acquisition Concept
Rattanlndia Enterprises Limited (REL) has acquired a 100% stake in ‘Cocoblu Retail Limited consequence to which, it has become a wholly-owned subsidiary company of REL.

Acquisition of shares at the face value of the company as the target company just got incorporated and yet to commence the business. Cost of acquisition is Rs1,00,000/- for 10,000 equity shares at Rs10/- each.

“Online retail is witnessing explosive growth in the country. REL has acquired 100% stake of ‘Cocoblu Retail Limited’ which intends to start a retail business on online E-commerce platforms,” company said in a filing on Wednesday.

At around 7.09 pm, RattanIndia Enterprises Limited was trading at Rs45.85 per piece up Rs0.40 or 0.88% on the BSE.

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