Paul Merchants has acquired 55,31,654 equity shares of the target company Paul Merchants Finance (formerly known as Paul Fincap) having face value of Rs 10 each, at a price of Rs 48.81 per Equity Share which includes a premium of Rs 38.81 per Equity Share aggregating to Rs 27,00,00,032. With this, the shareholding of the company in the target Company has increased from 82.16% to 88.96%.
Paul Merchants is engaged in international inward remittance, foreign exchange and tours, and travels and air ticketing. The company’s segments include Forex, Western Union, Travel and Others.
