Spacenet Enterprises to acquire 10% stake of Billmart at Rs401 per equity share

31 Jan 2022 , 10:17 AM

Spacenet Enterprises India Limited has signed a Share Subscription Agreement with Billmart Fintech Private Limited on January 29, 2022, for the acquisition of a 10% stake in Billmart.

As per the agreement, the company will acquire 62,500 equity shares of Rs401 (Re1 face value + Rs400 Premium) each share. The acquisition is set to be completed by February 28, 2022.

Billmart engages in developing, designing, maintaining, and providing technology, software(s) / platform(s) / portal(s) for connecting business entities for bills/receivables etc. and related businesses for processing, providing insights, analysing, discounting, facilitating payments, and related services and helping entities to carry out all kinds of transactions.

“This acquisition will help to the business of the company exclusively in the field of technology, software(s) / platform(s) / portal(s) for connecting business entities for bills / receivables etc.,” company said in a filing on Sunday.