TCM increases stake in iSpark Learning Solutions to 76%; Stock gains 3%

13 Sep 2022 , 12:10 PM

TCM Limited had earlier announced an investment of Rs10,89,200/- in iSpark Learning Solutions Pvt Ltd, for purchase of 1,08,920 newly issued equity shares at face value of Rs.10/- per equity share, which would result in increase in Company’s stake in iSpark Learning Solutions Pvt Ltd from 51% to 76%.

The Company has, in line with the approvals granted by the Board of Directors, completed the purchase of 1,08,920 newly issued equity shares of iSpark Learning Solutions Pvt Ltd, resulting an increase in the Company’s stake in iSpark Learning Solutions Pvt Ltd from 51% (pre-acquisition) to 76% (post-acquisition), said TCM in a regulatory filing on Monday.

On Tuesday at around 12:09 PM, TCM Ltd is currently trading at Rs53.20 per share up by Rs1.5 or 2.9% from its previous closing of Rs51.70 per share on the BSE.

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