Unistar Multimedia has planned to execute a share swap agreement (SSA) with shareholders to acquire 95,002 of equity shares, each fully paid up, having a face value of Rs 10, representing 100% of the equity share capital of Du Point Loyalty Distribution; of which one share shall be held by a nominee appointed by the company to comply with provisions and minimum requirements of Companies Act, 2013.
Under the terms of the Share Swap Agreement, the Company will acquire 95,002 of equity shares in Du Point Loyalty Distribution in exchange for 1,50,00,000 new shares (vide preferential allotment) in the Company on terms and conditions. Based on the issuance price of the Company at Rs 56.85 per share, the Share consideration has a value of around Rs 85.275 crore. The Company will consolidate earnings held by Du Point Loyalty Distribution.
The acquisition enables the Company to diversify and explore business opportunities in Information Technology segment. Information Technology Industry is one of the most profitable and has bright future in coming years.
Unistar Multimedia is in the business of providing quality content to various TV channels and preparing TV serials, own music albums, making films, event management etc.
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