PIL Italica Lifestyle to invest Rs2.49 crore in Atmospheres Workspace Solutions

15 Mar 2022 , 11:10 AM

PIL Italica Lifestyle Ltd has announced that the company will make a strategic investment by acquiring 1421 Compulsory Convertible Preference Shares (CCPS) in Atmospheres Workspace Solutions Private Limited (Investee Company) against Rs2.49 crore.

As per the regulatory filing, Atmospheres Workspace Solutions Private Limited(AWSPL) is engaged in the business of manufacturing of wooden and steel furniture, providing complete workspace solutions in e-commerce home and office furniture, focusing on MSME businesses.

Atmosphere is an Internet First Manufacturing D2C business with capabilities in engineered wood, solid wood, metal, acrylics, lighting and finishing under single roof.

Further, the Authorized share capital of the Company is Rs. 10,00,000 /- divided into 1,00,000 Equity Shares of Rs. 10 each.

The Paid up share capital of the Company is Rs. 1,00,000 /- divided into 10,000 Equity Shares of Rs. 10 each and the Turnover for the FY 2020-21 was Rs.1,40,85,367.

At around 11:13 AM, PIL ITALICA was trading at Rs10.80 apiece higher by 0.47% on the BSE.