Asian Paints Limited - Acquisition

6 Apr 2022 , 12:00 AM

This is with reference to our letter no. APL/SEC/31/2022-23/01 dated 1st April, 2022, wherein it was informed that the Company has entered into a Share Purchase Agreement and other definitive documents (collectively referred to as ???Definitive Documents???) with the existing shareholders of Obgenix Software Private Limited (popularly known by the brand name of ???White Teak???), for the acquisition of 100% of its equity share capital, in a staggered manner, over the period of next 3 (three) years, subject to certain conditions. It is now informed that the Company has acquired 49% of the equity share capital of White Teak and all the customary formalities relating to the said acquisition have been completed. The remaining 51% stake would be acquired in a staggered manner as per the terms of the Definitive Documents. This is for your information and record.