Rajapalayam Mills has entered into the Share Subscription and Purchase Agreement (SSPA) for the purpose of sale and transfer of 12,14,51,338 equity shares in Lynks Logistics (Lynks) (80,00,000 Compulsorily Convertible Preference Shares under conversion into Equity Shares and 11,34,51,338 Equity Shares under Acquisition) to Bundl Technologies (Bundl, operating under the brand name Swiggy) in exchange for compulsorily convertible preference shares of Bundl to be issued and allotted by Bundl to the company.
The company will also be providing representations / warranties / indemnities to Bundl in connection with the proposal, the aggregate indemnification liability of the company not to exceed Rs 21.04 crore as per the agreed terms under the SSPA, subject to any Closing date adjustments on account of Working Capital and Net Debt of Lynks.
Rajapalayam Mills is engaged in the manufacture and sale of yarns.
| Company Name | CMP |
|---|---|
| Trident | 25.70 |
| Filatex India | 44.25 |
| Nitin Spinners | 413.45 |
| Nahar Spinning Mills | 250.40 |
| Sanathan Textiles | 419.00 |
| View more.. | |
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