Inditrade Capital’s wholly owned subsidiary - Inditrade Business Consultants (IBCL), has entered into a Share Purchase Agreement (SPA) with Edel Commodities, a wholly owned subsidiary of Edelweiss Financial Services, for buying its wholly owned subsidiary, namely, Edel Commodities Trading (ECTL) for a deal size of minimum Rs 13 crore payable in cash and shares equivalent to 9% of the paid up equity share capital of IBCL.
As a result, ECTL along with Edel Commodities Chad SARL and Edel Commodities Nigeria, (both subsidiaries of ECTL) will become wholly owned subsidiaries of IBCL and consequently subsidiaries of the company. On completion of the transaction, the company will continue to hold more than 90% shareholding in IBCL.
IBCL is focused on commodity procurement, financing, import and export of commodities. It is currently operating in seven states and is rapidly scaling up its operations in India and abroad.
