In terms of regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015 read with Part A of Schedule III of the said regulations, VLS Finance has informed that the Company has acquired one lakh equity shares of Rs 10 each of VLS Securities, a subsidiary of the Company, from VLS Capital, a constituent of Promoter Group of the Company on 1st September 2021, for an outlay of about Rs 4.93 crores. The said acquisition was at arm's length with the aforesaid related party, since the consideration was arrived at on the basis of Independent Valuer's report. Besides, it is not a material transaction as per applicable regulations and materiality policy of the Company. The Company along with 6 other nominees, now holds 100% share capital of VLS Securities and therefore, the status of VLS Securities has changed to ‘Wholly Owned Subsidiary of the Company’ from ‘Subsidiary of the Company’.
The above information is a part of company’s filings submitted to BSE.